Apple faces a leadership change as Tim Cook steps down

Apple announced Tim Cook will step down as CEO on Sept. 1 and transition to executive chairman, with John Ternus named as his successor. The article reports Apple’s split-adjusted share price rose from $13.25 on Aug. 24, 2011, to $269.28, a roughly 1,932% return during Cook’s tenure.

Apple has announced a planned leadership transition that will take effect on Sept. 1, when Tim Cook will step down as chief executive and become executive chairman. John Ternus, Apple’s hardware engineering chief, is named to succeed Cook, marking the first new CEO at Apple since Cook replaced Steve Jobs in 2011. The change is being discussed in the context of long-term company performance and strategic shifts made under Cook’s leadership. The article highlights a specific stock-return statistic to illustrate how the company’s market position changed over his tenure. Key facts: - The article reports Tim Cook will step down as CEO on Sept. 1 and will transition to executive chairman, with John Ternus named as CEO. - The article reports Cook became CEO on Aug. 24, 2011, and that Apple’s split-adjusted share price rose from $13.25 then to $269.28 as of the report, described as roughly a 1,932% return. - The article reports an unadjusted comparison that shows a 2,289% return and notes the S&P 500 rose about 505% over the same period. - The article reports Apple’s market capitalization increased from about $350 billion at the start of Cook’s tenure to roughly $4 trillion, and that revenue rose from $108 billion in fiscal 2011 to over $416 billion in fiscal 2025. - The article reports Apple Services generated more than $100 billion annually and that the company expanded products and initiatives such as custom silicon, Apple Watch, AirPods, Apple Vision Pro, and supply-chain diversification away from China. Summary: The article frames the Sept. 1 transition as a major leadership change and cites stock and revenue figures to show how Apple’s scale shifted during Tim Cook’s tenure. It notes the named successor and the planned transition date; any further operational or strategic steps beyond that are undetermined at this time.