Apple CEO Tim Cook steps down, company names Ternus as incoming CEO

Apple said Tim Cook will step down as CEO and become executive chairman on Sept. 1, with hardware chief John Ternus set to succeed him.

Cook’s 14-year tenure helped lift Apple to a $4 trillion valuation and a dominant position in consumer tech.

The transition keeps Cook involved in policy and external relations as Apple enters a new leadership era led by a longtime hardware executive.