Tim Cook Steps Down as Apple CEO After 13 Years, John Ternus Takes Helm
SingTao · 2 SOURCESabout 2 hours ago2 MIN
Summary
Tim Cook has officially ended his tenure as Apple's chief executive, marking the conclusion of a remarkable 13-year run that transformed the technology giant into the world's most valuable company. John Ternus has been named as Cook's successor, with the leadership change taking effect on September 1. Cook, who joined Apple nearly 30 years ago at the invitation of co-founder Steve Jobs, will assume the newly created role of executive chairman of the board.
Key Points
- Tim Cook joined Apple in 1998, recruited by Steve Jobs, and rose to chief operating officer by 2005 before becoming CEO in 2011
- Cook took the helm just weeks before Jobs' death from pancreatic cancer in October 2011
- Apple's market capitalization has grown to over $4.5 trillion under Cook's leadership, making it the world's most valuable company
- John Ternus, who previously led Apple's hardware engineering division, will become only the second CEO in Apple's history after Jobs
- Apple currently employs approximately 166,000 workers worldwide, according to the company's latest annual report
Why It Matters
The transition represents a historic moment for Apple, as Ternus becomes only the second chief executive since the company's legendary co-founder. Cook's decade-plus leadership saw Apple expand from a premium computer maker into a cultural phenomenon spanning smartphones, wearables, and services, setting a formidable benchmark for his successor to build upon .
The transition represents a historic moment for Apple, as Ternus becomes only the second chief executive since the company's legendary co-founder. Cook's decade-plus leadership saw Apple expand from a premium computer maker into a cultural phenomenon spanning smartphones, wearables, and services, setting a formidable benchmark for his successor to build upon .