Tim Cook will step down as Apple CEO after this summer, ending nearly 15 years at the helm of the tech giant.
Cook, 65, announced his departure in a statement, saying it has been “the greatest honor of my life” to lead Apple.
He will be succeeded by John Ternus, 50, who currently leads Apple’s development organization and has been with the company since 2001.
Cook will transition to chairman of Apple’s board of directors and will oversee the leadership handover to ensure a smooth transition.
Under Cook’s leadership, Apple’s profit quadrupled and the company’s market value increased nearly tenfold, according to the company’s statement.
Cook took over as CEO in 2011 following the death of founder Steve Jobs.
The announcement does not specify the reasons for Cook’s decision to step down.
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What Cook’s tenure delivered for Apple financially
Apple’s profit grew fourfold during Cook’s time as CEO, the company stated in its announcement.
The tech giant’s market value rose almost tenfold under his leadership, reflecting sustained investor confidence and product innovation.
These gains came amid expansion into services, wearables, and continued iPhone dominance in global markets.
Who is John Ternus and what is his role at Apple
John Ternus has worked at Apple since 2001 and currently serves as a leader in the company’s development organization.
This follows our earlier report, NASCAR Martinsville DFS: Cook Out 400 Picks & Bets.
At 50, he is 15 years younger than Cook and represents an internal promotion to the CEO role.
Ternus has overseen hardware engineering, including work on Mac, iPad, and iPhone development teams.
Why is Tim Cook stepping down as Apple CEO?
The source does not specify the reasons for Tim Cook’s decision to step down as Apple CEO.
When will Tim Cook officially leave his role as CEO?
Tim Cook will step down as Apple CEO after this summer, with John Ternus taking over the role.
