Cook Passes Apple Reins to Ternus Amid Challenges in AI Era

Tim Cook has stepped down as CEO of Apple after a 15-year tenure that transformed the company from a $350 billion entity to a $4.5 trillion behemoth.

Cook, who took over from Steve Jobs in 2011, will now serve as executive chairman and focus on guiding Apple's dealings with policymakers amid tense relations between its home market, the US, and China.

During his time at the helm, Cook expanded Apple's supply chain operations, turning the company into a global leader in this area. He also transformed the iPhone user base into a recurring revenue stream, outpacing growth in the hardware business.

Cook's tenure saw Apple's annual sales rise from $108 billion to $416 billion, while profit grew more than fourfold to $112 billion. The wearables business, home to Cook-era innovations like the Apple Watch and AirPods, brought in $35 billion in sales in fiscal 2025.

However, critics have accused Apple of losing its innovation edge during Cook's tenure, particularly in AI research. The company has faced misses in various areas, including a decade-long EV project that was scrapped in 2024 and the botched launch of Apple Maps in 2012.