Tim Cook is stepping down as chief executive officer of Apple Inc. (NASDAQ: AAPL). The news broke after the market closed on April 20 and included the announcement that John Ternus, the company’s senior vice president of hardware engineering, will take over for Cook in September 2026.
It wasn’t quite a “where were you when...” moment, but the news caught investors off guard. It's like an athlete retiring with several years of gas in the tank. Insiders say that the rumors had been circulating for some time, but it seemed like a genuine surprise to many investors. It’s unusual and comes with several layers.
