Apple's CEO replaced

The rumors circulating for the past few months have been proven true: Tim Cook is stepping down as CEO of Apple, with John Ternus, formerly head of hardware engineering at the company, taking over. The handover will take place on September 1st. Tim Cook will remain Chairman of Apple's Board of Directors. He succeeded Steve Jobs in August 2011, a few months before the founder's death. Cook was previously Chief Operating Officer and completely transformed Apple's supply chain, contributing to the company's renewed success and efficiency. "I love Apple with all my heart," said Tim Cook. "Being Apple's CEO and having the trust to lead such an extraordinary company has been the greatest privilege of my life," Cook stated. I love Apple with all my heart, and I am deeply grateful for the opportunity to work with such an ingenious, innovative, creative, and deeply caring team of people who have demonstrated unwavering commitment to enriching the lives of our customers and creating the best products and services in the world. “I am deeply grateful for this opportunity to further Apple’s mission,” Ternus added. “Having spent nearly my entire career at Apple, I was fortunate to work under Steve Jobs’ leadership and to have Tim Cook as a mentor. It has been a privilege to help shape products and experiences that have so profoundly transformed the way we interact with the world and with each other.”