Tim Cook steps down as Apple CEO after 15 years, names a successor

Apple CEO Tim Cook is stepping down from his role at the helm of one of the world’s largest tech companies after a 15-year tenure that saw Apple become the first publicly traded U.S. company with a $1 trillion market cap and other notable milestones.

He announced in April that he would step down as Apple CEO at the end of August, and while he is leaving that role, he will remain with the company as the executive chairman. John Ternus, who most recently served as Apple’s senior vice president of hardware engineering, will be Cook’s successor.

Cook became CEO in August 2011 when Apple co-founder Steve Jobs resigned six weeks before his death. Jobs first met Cook in 1998 and convinced him to join Apple that year, starting his career at the tech giant as a senior vice president for worldwide operations.

“As you know, I am not leaving Apple. But I am stepping away from a role that I have loved deeply,” Cook said in a memo emailed to all employees on his final day. “I will miss this work in ways I can only begin to imagine, even as I remain completely at peace with my decision.”

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Apple CEO Tim Cook is stepping down from the role on Monday, Aug. 31, after leading the company to historic milestones during his tenure at the helm. (Justin Sullivan/Getty Images)

“Together, we have created something far greater than any one of us could have imagined or accomplished alone. And that’s the secret to our success. We bring out the best in each other. We lift each other up,” Cook said.

“We have made it possible to leave our ‘dent in the universe,’ as Steve once described it, because of who we are and what we believe, because of what we value and how we see the world,” he added.

Cook’s tenure at Apple saw the tech giant move to compete in new product and service categories, building a broader consumer tech ecosystem off of the MacBook, iPhone and iPad.

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Tim Cook served 15 years as Apple CEO and will remain as the company’s executive chairman. (Michael M. Santiago/Getty Images)

In 2014, Cook and the company announced the Apple Watch as the company entered the wearable health tech market, while it also launched Apply Pay that year to build on its base of consumer device users to compete in mobile payments.

The next year, Apple Music marked the company’s pivot from iTunes to a subscription-based model for consumers who stream their music, while 2016 saw the debut of Apple’s AirPods which supercharged the growth of the company’s wearables division. The company also launched Apple TV+ and Apple Card in 2019 as it continued to broaden its service offerings.

Apple also hit a number of major corporate milestones under Cook’s leadership. It became the first U.S.-based publicly…