Tim Cook to Step Down as Apple CEO; John Ternus Named Successor

After nearly 15 years of leadership, Tim Cook will step down as Apple's CEO on September 1. During his tenure, Apple saw its market value soar from $348 billion to around $4 trillion, and its annual revenue quadrupled to $416 billion. John Ternus, Apple's SVP of hardware engineering responsible for about 80% of the company's revenue-generating products, will succeed Cook as the new CEO.