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Apple announced on April 20 that Tim Cook will step down as CEO on Sept. 1, transitioning to executive chairman of the board, with John Ternus, senior vice president of hardware engineering, succeeding him as chief executive.

Apple announced on April 20 that Tim Cook will step down as CEO on Sept. 1, transitioning to executive chairman of the board, with John Ternus, senior vice president of hardware engineering, succeeding him as chief executive.

Cook joined Apple in 1998 and became CEO in 2011 following the resignation of co-founder Steve Jobs, who died two months later. During his tenure, Apple's market capitalization grew from roughly $350 billion to $4 trillion — an increase of more than 1,000%.

Cook joined Apple in 1998 and became CEO in 2011 following the resignation of co-founder Steve Jobs, who died two months later. During his tenure, Apple's market capitalization grew from roughly $350 billion to $4 trillion — an increase of more than 1,000%.

The board unanimously approved the leadership change, which Apple described as the result of "a thoughtful, long-term succession planning process." The announcement came weeks after Cook denied retirement rumors in an interview on ABC's "Good Morning America."

USA Today

The board unanimously approved the leadership change, which Apple described as the result of "a thoughtful, long-term succession planning process." The announcement came weeks after Cook denied retirement rumors in an interview on ABC's "Good Morning America."

Ternus, 50, joined Apple in 2001 and has spent nearly his entire career there, contributing to the development of the iPhone, iPad, Mac, AirPods and Apple Watch. He will also join Apple's board of directors on Sept. 1.

Ternus, 50, joined Apple in 2001 and has spent nearly his entire career there, contributing to the development of the iPhone, iPad, Mac, AirPods and Apple Watch. He will also join Apple's board of directors on Sept. 1.

Apple's annual revenue nearly quadrupled under Cook, rising from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025. The company's services segment grew to more than $100 billion during the same period.

Apple's annual revenue nearly quadrupled under Cook, rising from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025. The company's services segment grew to more than $100 billion during the same period.

Ternus takes over as Apple navigates a major push into artificial intelligence, having already integrated Google's Gemini AI models and OpenAI's ChatGPT into its ecosystem. The company is also reported to be developing a foldable iPhone and smart glasses.

Ternus takes over as Apple navigates a major push into artificial intelligence, having already integrated Google's Gemini AI models and OpenAI's ChatGPT into its ecosystem. The company is also reported to be developing a foldable iPhone and smart glasses.

Tim Cook Steps Down as Apple CEO in September

Tim Cook isSteps steppingDown down as Apple CEO in September

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