Tim Cook Will Step Down as Apple C.E.O.
The New York Times • • general
Key Points:
- Tim Cook, Apple’s CEO for nearly 15 years, announced he will step down in September and transition to the role of executive chairman.
- John Ternus, Apple's 50-year-old head of hardware engineering, will succeed Cook as CEO.
- Under Cook’s leadership, Apple’s annual profit quadrupled to over $110 billion, and the company’s value grew more than tenfold to $4 trillion.
- Cook took over from Steve Jobs in 2011 and is credited with refining Apple’s global supply chain and retail operations, helping define the modern tech company model.
- John Ternus, who joined Apple in 2001 and has led Mac and iPad development, will become Apple’s eighth CEO in its 50-year history and third since Jobs’ return in 1997.
