Tim Cook Hands Over Apple Reins to John Ternus

Tim Cook has stepped down as Apple's CEO after leading the company for 15 years. He officially left his position on August 31 and will be replaced by John Ternus, Apple's Senior Vice-President of Hardware Engineering.

Cook took over as CEO on August 24, 2011, following Steve Jobs' passing. During his tenure, Cook expanded the popularity of existing Apple products like the iPhone and introduced new consumer electronics such as the Apple Watch.

Under Cook's leadership, Apple's global supply chain was built, and the company's market capitalization grew from $350 billion to just under $5 trillion.

Cook will transition into an executive chair role on Apple's board of directors. Analysts praise him for taking Apple to its next phase, despite criticism of Apple's artificial intelligence strategy, or lack thereof.