Tim Cook to step down as Apple CEO, hardware chief John Ternus to take over

Tim Cook will step down as Chief Executive Officer of Apple Inc., bringing an end to his nearly 15-year tenure at the helm of one of the world’s most valuable companies. Cook will hand over leadership to Apple’s head of hardware engineering, John Ternus, on September 1.

Cook, 65, who succeeded Steve Jobs in 2011, will continue to be associated with the company as its executive chairman. The transition mirrors leadership shifts seen at other tech giants, including Jeff Bezos at Amazon and Reed Hastings at Netflix.

During Cook’s tenure, Apple’s market value surged by over $3.6 trillion, largely driven by the continued success of the iPhone and expansion into services and wearables. While often compared to Jobs and perceived by some as lacking his predecessor’s visionary style, Cook is credited with strengthening Apple’s global supply chain, expanding its product ecosystem, and leading the company through a period of unprecedented financial growth.

The leadership transition marks a significant moment for Apple as it enters a new phase under Ternus, who has played a key role in the development of the company’s hardware products.