Apple CEO Tim Cook is stepping down after 15 years leading the company, with hardware engineering chief John Ternus set to take over as CEO on September 1st;
Cook will remain at Apple as executive chairman of the board. Under Cook's leadership, Apple's market cap grew from roughly $350 billion to $4 trillion. The 51-year-old Ternus has been with Apple since 2001 and has overseen the development of the iPad, AirPods, and Apple Watch, among other products. Cook praised Ternus as having "the mind of an engineer, the soul of an innovator." Ternus said he worked under both Steve Jobs and Cook and called the opportunity to carry Apple's mission forward "a profound honor."
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