Apple (AAPL) shares are down roughly 0.5% in after-hours trading on news that CEO Tim Cook is resigning. Effective Sept. 1, John Ternus will take over the chief executive role. Ternus has served as Apple’s senior vice president of hardware engineering since 2021.
Although to some investors, Cook’s resignation, perhaps in part driven by Apple’s perceived lag in embracing artificial intelligence, has been a long time coming, the news is still rattling. Cook has been at the helm for 15 years and is considered largely successful.
