After leading Apple for nearly 15 years, Tim Cook will step down as CEO later this year. His tenure marks a major era in the company’s journey, during which Apple became one of the most valuable companies in the world. Cook will move into the role of executive chairman, where he will continue to be involved in key decisions, including strategy and policy matters. He described this shift as a transition rather than a departure.
Cook took over as CEO in 2011, succeeding Steve Jobs during a crucial time. Under his leadership, Apple expanded its product ecosystem, strengthening key areas such as the iPhone, Apple Watch and its services business.
Also read: Tim Cook steps down: Full text of his memo to Apple employees
The next CEO will be John Ternus, a long-time Apple leader with over 20 years at the company. He currently heads hardware engineering. Showing confidence in Ternus, Cook said, ‘He (John Ternus) is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character.’
OpenAI CEO Sam Altman shared his thoughts on X, saying, ‘Tim Cook is a legend.’ ‘I am very thankful for everything he has done and I am very thankful for Apple.’
This is a developing story…