Effective September 1, John Ternus will become the new CEO of Apple Inc.

The appointment was made by the company's board of directors and is part of a pre-determined leadership succession process.

John Ternus currently serves as Apple's senior vice president of Hardware Engineering. His candidacy was unanimously approved by the board of directors.

Ternus stated that he views the appointment as a great honor and looks forward to the company's continued growth in the coming years.

It was previously reported that current CEO Tim Cook would step down and assume the position of chairman of the board of directors following the transition.

ORIENT