Tim Cook is stepping down as Apple’s chief executive after 15 years leading the iconic company, with longtime Apple hardware executive John Ternus taking the reins as the new CEO in September, the company announced on Monday.
The CEO change at the $4 trillion company was approved unanimously by Apple’s board of directors after a “thoughtful, long-term succession planning process,” the company said. Cook, one of the world’s most admired CEOs, who turned 65 in November, had been rumored to be nearing retirement, but Monday’s announcement came without Apple having previously commented on succession plans.
