Apple CEO Tim Cook to step down in September

Apple's long-anticipated leadership transition is finally here, with CEO Tim Cook announcing his departure from the top executive role in September. Cook, who has steered the tech giant since 2011, will move to become the executive chairman of the board. This move answers persistent questions about succession planning for the 65-year-old executive. Taking the reins as the new CEO will be John Ternus, a seasoned company veteran who has been with Apple for decades.

“

It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company.

Cook's departure marks the end of an era for Apple. He took over leadership following the health-related resignation of co-founder Steve Jobs. During his 13-year tenure, Cook was instrumental in expanding Apple's product offerings and significantly increasing its market capitalization, reaching an estimated $4 trillion at its peak. The outgoing chairman of the board, Arthur Levinson, lauded Cook's 'unprecedented and outstanding leadership,' emphasizing that his integrity and values are deeply embedded in Apple's corporate culture.

“

Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company. His integrity and values are infused into everything Apple does.

Ternus, who joined Apple's product design team in 2001, has risen through the ranks to become senior vice president of hardware engineering. He is recognized for his contributions to key products such as the iPhone, iPad, Apple Watch, and Mac computers. Ternus expressed his gratitude for the opportunity, noting his mentorship under both Steve Jobs and Tim Cook. As Apple celebrates its 50th anniversary, the company faces the ongoing challenge of innovation, particularly in the realm of artificial intelligence, a field where it must prove its capacity for culture-changing advancements, much like Jobs and Wozniak did in the past.

“

I am profoundly grateful for this opportunity to carry Apple’s mission forward. Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor.