Tim Cook Steps Down As Apple CEO

Tim Cook has stepped down as Apple's chief executive after nearly 15 years at the helm. Cook, who became CEO shortly before co-founder Steve Jobs died in 2011, moved into the role of executive chairman of Apple's board on September 1, 2026.

John Ternus, previously Apple's senior vice-president of Hardware Engineering, has succeeded him as CEO. Cook joined Apple in 1998 after leaving Compaq at Jobs' request. At the time, Apple was struggling financially and needed major improvements across its operations.

As senior vice-president of operations and later chief operating officer, Cook transformed Apple's supply chain and manufacturing systems. His focus on reducing inventory, outsourcing production and controlling costs helped the company regain financial stability.

After taking charge as CEO, Cook oversaw the introduction of products such as the Apple Watch and AirPods. Apple also expanded its services business and strengthened its presence across global markets. During the first decade of his leadership, the company's revenue and profit more than doubled.

Apple became the first publicly traded company to cross USD 1 trillion in market capitalisation in 2018. By 2026, it was reportedly the world's third-largest company, valued at approximately USD 4.01 trillion.

Despite leading one of the world's most valuable companies, Cook owns only about 0.02 percent of Apple. Forbes estimated his net worth at approximately USD 2.9 billion in spring 2026, while Celebrity Net Worth placed it at around USD 2.2 billion.

His fortune is considerably smaller than those of Elon Musk, Jeff Bezos and Bernard Arnault. Unlike many ultra-wealthy business leaders, Cook did not establish Apple and therefore does not own a substantial founder-level stake.

Cook has donated extensively to charitable causes and previously said he plans to give away most of his wealth. His transition to executive chairman allows him to remain involved in Apple's strategic direction while handing daily leadership to Ternus.

The change in leadership marks the end of an era for Apple, but the company is expected to continue its growth trajectory under Ternus' leadership. As one of the world's most valuable companies, Apple's success has a significant impact on the global economy and the technology industry as a whole.

In the context of the global technology landscape, Apple's success under Cook's leadership has been a significant factor in shaping the industry. The company's focus on innovation and customer experience has set a high standard for other technology companies to follow.

As Cook steps down as CEO, his legacy at Apple will be remembered as a period of significant growth and transformation. His commitment to philanthropy and giving back to society is also an inspiration to many.

The future of Apple under Ternus' leadership will be closely watched by investors, customers, and the technology industry as a whole. With its strong brand and loyal customer base, Apple is well-positioned to continue its success in the years to come.

In conclusion, Tim Cook's stepping down as Apple CEO marks the end of an era, but the company is expected to continue its growth trajectory under new leadership. Cook's legacy at Apple will be remembered as a period of significant growth and transformation, and his commitment to philanthropy is an inspiration to many.