**Tim Cook Steps Down as Apple CEO**
Tim Cook officially stepped down as CEO of Apple Inc. (NASDAQ: AAPL) on September 1, 2023, passing leadership to John Ternus. Cook, who held the CEO position since August 2011, will continue as executive chairman of Apple’s board.
Under Cook’s leadership, Apple experienced a staggering 2,700% increase in stock value, attributed to significant investments in the company, particularly in share buybacks amounting to $879 billion since 2013. This aggressive approach led to a 44.5% reduction in Apple’s outstanding share count, enhancing earnings per share and bolstering the company’s market cap, which as of late August, ranked among the top 12 in the S&P 500.
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