Tim Cook Hands Reins to Ternus as Apple CEO
After 15 years at the helm of Apple, Tim Cook is stepping down as CEO on September 1. He will be replaced by John Ternus, Senior Vice-President of Hardware Engineering.
Cook took over as CEO in August 2011 following the death of co-founder Steve Jobs. During his tenure, he expanded the popularity of existing Apple products and introduced new devices like the Apple Watch.
Under Cook's leadership, Apple's market capitalization grew from $350 billion to just under $5 trillion. He also transformed Apple into a services giant through the launch of digital wallet, credit cards, and streaming service Apple TV.
However, critics have pointed out that Apple's artificial intelligence strategy has been lacking, particularly in its Siri digital assistant. Ternus will face pressure to deliver a strong A.I. strategy for Apple when he takes over on September 1.