Ternus Takes the Helm at Apple Amid Calls to Revamp Innovation

Apple CEO Tim Cook will hand over the reins to John Ternus on September 1, bringing an end to his 15-year tenure. During this period, Apple's market value grew from $350 billion to over $4.5 trillion. Cook will become executive chairman, focusing on policy and relations with lawmakers in Washington.

Cook took a different approach than Steve Jobs, who he succeeded as CEO. Instead of following in Jobs' footsteps, Cook focused on making Apple's supply chain the envy of every manufacturer. This operations-first mindset allowed him to take cutting-edge products to the masses, turning a $350 billion company into a $4.5 trillion behemoth.

Under Cook's leadership, Apple's annual sales rose from $108 billion to over $416 billion, with profit increasing more than fourfold to $112 billion. The wearables business, which includes iPhone accessories like the Apple Watch and AirPods, brought in $35 billion in sales in fiscal 2025.

Critics have accused Cook of losing Apple's innovation edge, particularly in AI. Ternus will face significant challenges as he takes over, including demonstrating that AI will be more than just an app on the iPhone or a voice assistant like Siri.