Real reason Tim Cook is stepping down as Apple CEO after 15 years at the top
It's all change in the orchard, as Tim Cook is officially stepping down as the CEO of Apple, and a new era of the tech giant is just over the horizon.
While Apple has boomed since the introduction of the iPhone in 2007, Cook has overseen the arrival of everything from the Apple Watch to Apple TV, although there have been some fumbles with the likes of the Apple Vision Pro.
Much like we've seen a recent leadership change with Josh D'Amaro taking over from Bob Iger, Apple is welcoming a new dynasty as Tim Cook is departing his role as CEO after 15 years. But just why is Cook stepping down as Apple CEO, and who is taking over the illustrious job next?
Why is Tim Cook stepping down as Apple CEO?
Joining Apple from computer maker Compaq in 1998, Cook became Chief Operating Officer in 2007 and helped it become the multi-trillion-dollar giant it is today.
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Boasting an annual revenue of $110 billion, Apple is far more than just the company behind the iPhone. Cook has also cultivated something of a close relationship with President Donald Trump, affectionately being referred to as Tim Apple. Still, there's been some tension over the POTUS' plans to build big in America, meaning Cook was threatened with Trump's trade tariffs and eventually promised a whopping $600 billion investment in the USA.
Apple announced Cook's departure as CEO in a post on its own newsroom, confirming that he'll officially be stepping down on September 1, 2026. This isn't part of some scandal or Cook battling known medical problems like Steve Jobs' tragic cancer diagnosis, with Apple saying it's part of a "thoughtful, long-term succession planning process."
It's important to note that Cook isn't leaving Apple altogether. He's instead transitioning into a senior leadership role and will stay on as an executive chairman at a higher level. As executive chairman, Cook will continue assisting with aspects like engaging with policymakers in countries around the globe.
Discussing his time as CEO, Cook referred to it as the greatest privilege of his life: "I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world."
Who is the new CEO of Apple?
Much like there was a transitional period between Steve Jobs and Tim Cook, Cook's replacement has already been found.
Up next is John Ternus, who Cook will work closely with during his final months as CEO. Joining Apple in 2001, Ternus has made a name for himself overseeing the development of Macs and iPads. He became vice president of hardware engineering in 2013 and then rose to the role of president in 2021.
One of Ternus' biggest claims to fame was overseeing the launch of Apple's proprietary silicon chips that replaced the existing Intel chips in 2020 and saw sales soar.
It's said that the decision for Ternus to take over was unanimously approved by the Board of Directors, with Cook similarly singing his praises. Saying that his successor has "the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor," Cook added that Ternus is a 'visionary' whose contributed to Apple over the past 25 years.
Ternus is also looking forward to the future as he championed Jobs and Cook as his mentors: "I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us.
“I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century."
As Apple looks forward, Cook's legacy lives on as far more than the man who made it the first publicly traded company to reach a valuation of $1 trillion.