Tim Cook Steps Down as Apple CEO After Leading Company to $4 Trillion Market Cap
Tim Cook is stepping down as Apple's (AAPL) CEO on August 31, 2026, and will transition to the role of executive chair. He has been succeeded by John Ternus, senior vice president of hardware engineering. During his tenure, which began in 2011 following Steve Jobs' passing, Cook oversaw significant growth for Apple, including a market capitalization increase from $350 billion to over $4 trillion and revenue rising quadrupled from $108 billion to $416 billion. Cook's leadership saw the launch of major products like the Apple Watch, AirPods, and MacBook Neo. He also led Apple’s transition from Intel (INTC) chips to in-house silicon for Mac computers, enhancing performance and battery life. Additionally, he expanded the Services segment revenue beyond $100 billion. Under his guidance, Apple stock surged over 2,000% since August 2011. Ternus will take on a pivotal role as Apple transitions into an AI-focused era, with plans to launch new products such as foldable iPhones and smart glasses in the coming months.
Topics: Apple Leadership Change Market Capitalization Growth Tim Cook