Apple Inc. announced on Monday that Tim Cook, who has served as CEO since 2011, will step down from his position and transition to the role of executive chairman.
Cook took over as CEO following the passing of Steve Jobs, Apple’s co-founder and former CEO, who led the company from 1997 to 2011.
Apple also revealed that John Ternus, currently senior vice president of Hardware Engineering, will succeed Cook as the company’s third CEO. Ternus has been a key leader in Apple’s hardware development, including the iPhone, iPad, and Mac product lines.
The leadership transition reflects Apple’s ongoing evolution under Cook’s 13-year tenure, during which the company became the world’s first to reach a $3 trillion market valuation in 2022.
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