Tim Cook to Step Down as Apple CEO

Apple announced on Monday that Tim Cook will step down as chief executive officer in September, with longtime company executive John Ternus set to succeed him.

Cook, 65, will move into the role of executive chairman of the board after leaving the CEO position, ending years of speculation over who would eventually succeed him. 

He said leading Apple had been the greatest privilege of his career.

“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 said.

Cook joined Apple in 1998 and rose through the ranks, serving as chief operating officer before becoming CEO in 2011 after co-founder Steve Jobs resigned due to health reasons. During his tenure, Apple expanded its product portfolio and grew into one of the world’s most valuable companies, with a market value of about $4 trillion.

He was also widely credited with building Apple’s manufacturing network in China, where most iPhones are assembled through contractors such as Foxconn and other suppliers.

Board chairman Arthur Levinson praised Cook’s leadership, saying he had transformed Apple into a leading global company and embedded strong values across the organisation. 

Levinson will transition to the role of lead independent director.

“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company,” outgoing chairman of the board Arthur Levinson said in the statement.

“His integrity and values are infused into everything Apple does.”

Ternus joined Apple’s product design team in 2001 and later became senior vice president of hardware engineering. He has worked on several flagship products, including the iPhone, iPad, Apple Watch and Mac computers. Ternus said he had been fortunate to work under both Steve Jobs and Tim Cook during his career.

The leadership change comes as Apple marks its 50th anniversary while facing increasing pressure in the artificial intelligence race. 

Rivals including Google, Microsoft and OpenAI have moved aggressively into Artificial Intellience, while Apple has faced criticism for delays to a promised Siri upgrade and for relying on external partnerships to strengthen its AI capabilities.

Cook’s tenure also included mixed results in some new ventures. Apple abandoned its self-driving electric vehicle project in 2024, while the Vision Pro headset has struggled to gain widespread traction because of its high price.