Apple chief Tim Cook says it was the 'right time' to step down as CEO
Apple CEO Tim Cook is stepping down on Sept. 1 after 15 years, with John Ternus taking over as CEO. Cook cited Apple's current performance, product roadmap, and Ternus's readiness as reasons for his departure.
Apple CEO Tim Cook is stepping down on Sept. 1 after 15 years, transitioning to executive chairman. John Ternus, Apple's head of hardware engineering, will take over as CEO. Cook cited three factors for his decision: Apple's performance, product roadmap, and Ternus's readiness. Apple's revenue jumped 17% in the second quarter, ahead of analyst estimates. Cook addressed concerns about Apple being behind in the artificial intelligence race, stating that AI is a top priority. The company plans to seek refunds for duties paid under President Donald Trump's tariffs and will reinvest any amount received into U.S. innovation and advanced manufacturing.
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