Tim Cook To Step Down As Apple CEO In September

Tim Cook

Apple CEO Tim Cook announced Monday he will step down after nearly 15 years leading the company, transitioning to the role of executive chairman.

Cook, 65, will hand over the chief executive position in September to John Ternus, 50, currently Apple’s head of hardware engineering.

The leadership change marks the end of one of the most successful runs in American corporate history. Under Cook’s leadership, Apple’s annual profit quadrupled to more than $110 billion, and the company’s market value surged more than tenfold to $4 trillion, cementing its status as one of the world’s most valuable and influential companies.

Cook took over as CEO in 2011 shortly before the death of Apple co-founder Steve Jobs. He built a reputation for operational excellence, expanding Apple’s global supply chain across China, India, and 

Brazil while growing its retail presence on five continents. The company became a model for modern technology operations during his tenure.

“He stepped into the world’s biggest shoes — the biggest shoes that anybody on the planet has ever had to step into — and he’s done an amazing job,” said Peter Oppenheimer, Apple’s former chief financial officer from 2004 to 2014.

John Ternus

Ternus joined Apple in 2001 and rose through the ranks overseeing the development of Macs and iPads. He will become the company’s eighth CEO since its founding 50 years ago and only the third since Steve Jobs’ return in 1997.

“I am filled with optimism about what we can achieve in the years to come,” Ternus said in a statement. “I promise to lead with the values and vision that have come to define this special place for half a century.”

Ternus takes the helm at a critical time. Apple has not launched a major new mainstream product category in years and faces growing questions about its strategy, particularly in artificial intelligence. 

The company has lost several top executives recently, raising investor concerns about management depth. While competitors pour hundreds of billions into AI development, Apple has remained relatively cautious on the technology.