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Tim Cook steps down as Apple CEO, John Ternus takes over
Apple said Cook will become executive chair and help engage with policymakers globally as the company transitions its AI capabilities.
Apple said Tim Cook is stepping down as CEO, with senior vice president of hardware engineering John Ternus taking over the role effective today.
Cook will remain at the company as executive chair and assist with certain aspects of the business, including engaging with policymakers around the world, according to a company statement.
Under Cook’s tenure, Apple launched products including the Apple Watch, AirPods, and more recently the MacBook Neo, while also growing its Services revenue to more than $100 billion, the company’s second-largest business behind iPhone, the report said.
The article also credited Cook with pushing Apple’s shift from Intel chips to custom silicon for its Mac lineup, and it said Apple’s market capitalization rose from $350 billion to more than $4 trillion, a 1,000% increase, while yearly revenue grew from $108 billion in 2011 to $416 billion in 2025.
Ternus is stepping in as Apple works to improve its AI capabilities after falling behind competitors, and the company is expected to launch an updated Siri powered by Google Gemini AI models during its WWDC conference in June, the article added.