Tim Cook will step down as Apple CEO and hand reins over to the iPhone maker’s hardware leader
Summary
Apple CEO Tim Cook will step down on September 1 and hand over leadership to John Ternus, Apple’s head of hardware engineering. Cook will stay involved with the company as executive chairman after leading Apple for nearly 15 years.Key Facts
- Tim Cook has been Apple’s CEO for almost 15 years.
- During Cook’s leadership, Apple’s market value grew by more than $3.6 trillion.
- John Ternus, the current head of Apple’s hardware engineering, will become CEO on September 1.
- Tim Cook will become executive chairman and remain involved with Apple.
- Cook took over from Apple’s late co-founder Steve Jobs.
- Cook is 65 years old.
- Cook helped Apple grow using the success of the iPhone and other products started under Jobs.
- The leadership transition is similar to recent CEO changes at Amazon and Netflix.
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