Tim Cook is stepping down as Apple's CEO on Sept. 1 after growing the company's market value from $350 billion to $4 trillion over his 15-year tenure, with success attributed largely to operational excellence and services expansion rather than product innovation. Hardware executive John Ternus will succeed Cook, who navigated supply chain challenges and geopolitical pressures while increasing Apple's gross margins and building the services business to $109.2 billion in annual revenue.
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Tim Cook is stepping down as Apple's CEO on Sept. 1 after growing the company's market value from $350 billion to $4 trillion over his 15-year tenure, with success attributed largely to operational excellence and services expansion rather than product innovation. Hardware executive John Ternus will succeed Cook, who navigated supply chain challenges and geopolitical pressures while increasing Apple's gross margins and building the services business to $109.2 billion in annual revenue.