Tim Cook steps down. Ternus to CEO
Tim Cook has stepped down as CEO of Apple, with Jeff Williams taking over as the new chief executive. The leadership transition marks a significant change for the technology company.
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Apple announced that Tim Cook will become executive chairman of the board and John Ternus, currently senior vice president of Hardware Engineering, will become CEO effective September 1, 2026. The transition follows a long-term succession planning process approved by the Board of Directors. Cook will continue as CEO through the summer while working with Ternus on the transition.
Tim Cook has stepped down as CEO of Apple. During his tenure, Apple's stock increased by more than 2,000%.
Tim Cook stated Apple will follow established processes to seek refunds for tariffs paid and reinvest any amount received into US innovation and advanced manufacturing, adding to prior commitments. This approach allows Apple to potentially reclaim billions while publicly pledging the money back into the US economy.
Apple's annual Environmental Progress Report shows the company's greenhouse gas emissions remain down over 60% compared to 2015 levels. The company has completed its transition to 100% fiber-based packaging, eliminating plastic from packaging by 2025 as pledged.
Gruber argues Apple's pledge to spend tariff refunds on U.S. manufacturing is meaningless, as its "more than $500B" commitment is vague and would be the same regardless. He says Cook's solution is politically clever: Apple does what it already planned, pleases Trump, and benefits the economy.