🕒 Created

Tim Cook steps down as Apple CEO after 15-year tenure, naming John Ternus as successor

Tim Cook stepped down as Apple CEO on Monday, August 31, following 15 years at the helm of the technology company. John Ternus, who previously served as the senior vice president of hardware engineering, will succeed Cook as CEO. While Cook is departing from the chief executive role, he will remain with the company as its executive chairman. During his tenure, Cook led Apple to several historic milestones, including becoming the first U.S. publicly traded company to reach a $1 trillion market capitalization in 2018. Under his leadership, the company expanded its product ecosystem to include the Apple Watch, AirPods, and Apple Music. Cook also navigated complex geopolitical relationships between the United States and China while managing the company's supply chain and production. In a farewell memo to employees, Cook expressed his peace with the decision and praised his successor. He noted that few people understand what it takes to build products that change the world in the way John Ternus does. Cook advised Ternus to focus on making products that enrich the lives of customers.

Sources

Paywall and unreadable sources