Apple has announced a major leadership change: CEO Tim Cook will step down on September 1 and hand over the top job to John Ternus, the company’s senior vice president of hardware engineering. Cook, 65, will stay on as executive chairman, ensuring a smooth transition while remaining involved in big-picture strategy and global policy.

Cook has led Apple since 2011, when he succeeded co-founder Steve Jobs. Under his watch, the company experienced extraordinary growth. Apple’s market value soared from about $350 billion to roughly $4 trillion, an increase of more than $3.6 trillion. Annual revenue jumped from $108 billion in fiscal 2011 to over $416 billion in fiscal 2025.

During Cook’s tenure, Apple launched several blockbuster product categories, including the Apple Watch, AirPods, and Apple Vision Pro. The company also built a powerful services business with iCloud, Apple Pay, Apple TV+, and Apple Music, making it one of the world’s most valuable and profitable tech giants.

In a heartfelt message posted on Apple’s website, Cook called leading the company “the greatest privilege of my life.” He expressed full confidence in Apple’s future and described Ternus as the ideal person to guide the company forward.

BOB Post