Tim Cook, the manager who led Apple to develop into a $4 trillion firm and outlined its identification within the post-Steve Jobs period, is stepping down as CEO, Apple stated on Monday.
John Ternus, Apple’s senior vice chairman of {hardware} engineering, will take over as CEO efficient September 1. Cook will develop into government chairman of Apple’s board of administrators and can stay as CEO by way of the summer time to guarantee a easy transition, the corporate stated.
“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 stated in a press launch.
The information comes amid a string of changes to Apple’s executive ranks in late 2025, together with the departures of its AI chief, coverage head and considered one of its prime design leaders.
Cook, who grew to become Apple’s CEO in 2011 after serving as its chief working officer, was answerable for pushing Apple past the handful of merchandise the corporate was initially recognized for, such because the Mac, iPod and iPhone. Under Cook’s management, Apple grew to become a vital participant in new areas like leisure, well being and wearables.
He additionally guided the corporate by way of defining moments in world historical past that had a profound influence on the corporate, such because the COVID-19 pandemic and President Donald Trump’s tariff insurance policies and commerce warfare with China.
This story is creating and might be up to date.