Apple CEO Cook Resigns After 1,000% Growth

Apple announced Tim Cook will transition to executive chairman, with John Ternus set to become CEO on Sep 1 2026.
Shares fell over 1% after market close as the board unanimously approved the surprise leadership change.
Cook’s tenure grew market cap from ~$350 bn to $4 trillion and revenue from $108 bn (FY2011) to >$416 bn (FY2025).
Ternus, senior VP of Hardware Engineering, will join the board and oversee hardware lines including iPhone, iPad, Mac, Apple Watch, AirPods.