SAN FRANCISCO, United States: Tim Cook will step down as chief executive of Apple in September, the company announced, bringing an end to a leadership era that has spanned more than a decade.
Cook, 65, will transition to the role of executive chairman, while long-time Apple executive John Ternus will take over as CEO. The move resolves long-standing speculation about succession at one of the world’s most valuable companies.
“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 in a statement.
Cook joined Apple in 1998 and played a key role in shaping its global supply chain before becoming CEO in 2011, succeeding co-founder Steve Jobs following his health-related departure.
During his tenure, Cook oversaw a period of significant growth, expanding Apple’s product ecosystem and increasing its market value to around $4 trillion. He also strengthened the company’s manufacturing base in China, with most iPhones assembled by suppliers such as Foxconn.
“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company,” said board chairman Arthur Levinson.
Leadership transition
Levinson will now serve as lead independent director, while Ternus, who joined Apple’s product design team in 2001, steps into the top role after years overseeing hardware engineering.
“Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor,” Ternus said.
The leadership transition comes at a critical time for Apple, which marks its 50th anniversary this year. The company faces increasing competition in artificial intelligence from rivals including Google, Microsoft and OpenAI.
Analysts say Apple has been slower to advance in AI, with delays to its Siri assistant upgrades and increased reliance on external partners for AI capabilities.
“Apple is making a major transition on its AI strategy and longtime CEO and legendary Cook leaving now is a surprise,” said Wedbush analyst Dan Ives.
“There will be a lot of pressure on Ternus to produce success out of the gates especially on the AI front.”
While Cook guided Apple into new product categories such as wearables, some initiatives — including a self-driving car project — failed to materialise.
As Apple enters a new chapter, industry observers say its ability to innovate in AI and emerging technologies will define the company’s future trajectory.
