Tim Cook is logging off as Apple CEO. He announced today he’s stepping down in September after nearly 15 years running one of the most valuable companies in the world. Cook, 65, will move into a new role as executive chairman and be replaced by John Ternus, Apple’s 50-year-old head of hardware engineering.
Cook’s tenure was one of the most successful management runs in American business history. During his 15 years at the top spot, Apple’s annual profit quadrupled to more than $110 billion, while its market value ballooned more than tenfold to $4 trillion. He took over from co-founder Steve Jobs in 2011 and rode the wild popularity of the iPhone to make Apple one of the most influential companies on the planet.
Ternus has been at Apple since 2001 and currently oversees hardware engineering for iPhone, iPad, Mac, and other products. The transition happens in September, giving Ternus five months to prepare for one of the most high-profile CEO roles in tech.
Tim Cook is logging off as Apple CEO. He announced today he’s stepping down in September after nearly 15 years running one of the most valuable companies in the world. Cook, 65, will move into a new role as executive chairman and be replaced by John Ternus, Apple’s 50-year-old head of hardware engineering.
Cook’s tenure was one of the most successful management runs in American business history. During his 15 years at the top spot, Apple’s annual profit quadrupled to more than $110 billion, while its market value ballooned more than tenfold to $4 trillion. He took over from co-founder Steve Jobs in 2011 and rode the wild popularity of the iPhone to make Apple one of the most influential companies on the planet.
Ternus has been at Apple since 2001 and currently oversees hardware engineering for iPhone, iPad, Mac, and other products. The transition happens in September, giving Ternus five months to prepare for one of the most high-profile CEO roles in tech.
Read the full article here
