Tim Cook steps down as Apple CEO as John Ternus prepares to take over leadership
Tim Cook officially concluded his tenure as CEO of Apple on September 1, following 15 years of leadership. John Ternus, who served as the company's hardware chief, will assume the role of CEO starting tomorrow. Cook expressed deep gratitude to the Apple team in an emotional memo, highlighting the company's culture and the privilege of leading such an extraordinary team. John Ternus faces immediate challenges, including the upcoming iPhone launch featuring the first foldable iPhone and a revamped Siri AI system. To navigate these hurdles, Ternus is expected to rely on a core leadership team including COO Sabih Khan, CFO Kevan Parekh, and services chief Eddy Cue. While Ternus takes the helm, Tim Cook will remain as executive chairman, maintaining his role in managing relationships with the Chinese government and President Donald Trump. Apple's stock has shown a healthy run recently, gaining 3.6% in August. The company also recently increased subscription prices for Apple TV and Apple One.