Tim Cook Steps Down as CEO of Apple
Tim Cook, who has served as CEO of Apple since August 2011, will hand over his position to John Ternus on September 1, 2023. Under Cook’s leadership, Apple’s market cap soared from $351 billion to over $2.7 trillion, driven by the global expansion of the iPhone and significant growth in the services segment, which increased from $3 billion to $120 billion.
During his tenure, Cook also initiated a dividend in 2012 and oversaw the launch of successful products like the Apple Watch and AirPods, which collectively became a $36 billion business. Apple’s stock price reflects this growth; a $10,000 investment made at the time of Cook’s ascension would now be valued at approximately $289,500.
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