FILE – In this June 3, 2019, file photo, Apple CEO Tim Cook speaks at the Apple Worldwide Developers Conference in San Jose, Calif. In a tweet Tuesday, Dec. 22, 2020, Tesla CEO Elon Musk said he on…2026-04-20T21:09:56Z
Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company’s market value soar by more than $3.6 trillion during an iPhone-fueled era of prosperity.Cook, 65, will turn the CEO duties to Apple’s head of hardware engineering, John Ternus, on September 1 while remaining involved with the Cupertino, California, company as executive chairman. That’s similar to the transitions made by Amazon’s Jeff Bezos and Netflix’s Reed Hastings after they ended their highly successful tenures as CEO. “It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said in a statement. “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.”Although he never shook the perception that he lacked Jobs’ vision, Cook leveraged the popularity of the iPhone and other breakthroughs orchestrated by his predecessor to lift Apple to heights that seemed unfathomable when it was on the brink of bankruptcy during the mid-1990s.
MICHAEL LIEDTKE
Liedtke has been covering technology and wide range of other business topics for The Associated Press since the turn of the century.
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