Tim Cook is stepping down as Apple CEO after nearly 15 years, with hardware chief John Ternus taking over

Summary: Tim Cook is stepping down as Apple CEO on 1 September after nearly 15 years, during which Apple’s market capitalisation grew from $348 billion to roughly $4 trillion and annual revenue quadrupled to $416 billion. John Ternus, the 50-year-old SVP of hardware engineering who oversees roughly 80% of Apple’s revenue-generating products, will become the company’s fourth CEO, inheriting strategic challenges in AI, regulation, and a substantially rebuilt executive team following the departure of the COO, general counsel, AI chief, CFO, and head of design.

Tim Cook is stepping down as Apple’s chief executive on 1 September, ending a nearly 15-year tenure that took the company from a $348 billion valuation to roughly $4 trillion. John Ternus, the 50-year-old senior vice president of hardware engineering who oversees the products responsible for approximately 80% of Apple’s revenue, will become the company’s fourth CEO. Cook will ...