President Donald Trump paid tribute to outgoing Apple CEO Tim Cook in a Truth Social post, calling him an "incredible guy." Trump recalled an early phone call from Cook: "I was very impressed with myself to have the head of Apple calling to 'kiss my ass.
When Steve Jobs named Tim Cook as his successor in August 2011, the immediate reaction among investors wasn't positive. The executive known for his work on supply chains was replacing the visionary, a tough act to follow.
Over his 15-year reign as Apple's top banana, Tim Cook has become instantly recognizable, powerful beyond imagination, and exceedingly wealthy. Most estimates peg Cook's current net worth at roughly $3 billion, wealth that he amassed largely through performance-based equity awards as Apple's market cap has grown more than 11x on his watch to roughly $4 trillion.
Yesterday, Apple announced that its longtime CEO, Tim Cook, will step down in September, with John Ternus, the current senior vice president of hardware engineering, taking over.
On this special edition of “Bloomberg Tech,” Caroline Hyde and Ed Ludlow discuss Apple's CEO transition as the company announces hardware boss John Ternus will take over for Tim Cook on Sept. 1. Plus, Cook will become executive chairman, ensuring his corporate diplomacy skills and his strong ties with President Donald Trump remain on call for Apple.
Apple's true innovation is betting on hardware as the clearest path to profit from the AI revolution.
Walter Piecyk of Lightshed Partners has been saying for over a year that Apple needs a new CEO, and now they're getting one. Piecyk is on "Bloomberg Surveillance.
AAPL names John Ternus as CEO from September 2026 as Tim Cook becomes executive chairman, spotlighting AI execution and hardware continuity.
Tim Cook built a $4 trillion powerhouse. Now John Ternus must fix Apple's glaring AI gap.
CNBC's Jon Fortt reports on news regarding Apple.
Apple is making a major leadership change this fall as hardware chief John Ternus succeeds CEO Tim Cook. Ternus must decide how much he wants to invest in Apple TV, the tech titan's small streamer.
Apple Inc. (NASDAQ:AAPL) stunned Wall Street on Monday by naming John Ternus as its next CEO, ending Tim Cook's 14-year run at the helm and marking the most consequential leadership shift at the iPhone maker since Steve Jobs handed Cook the reins in 2011.