Tim Cook steps down as Apple CEO, hands reins to Ternus

Apple Inc. has announced a significant leadership change, with Tim Cook transitioning to executive chairman effective September 1, while Joel Ternus, currently senior vice president of hardware engineering, will become the company's new chief executive officer. Cook, who has led Apple since 2011, will focus on broader corporate strategy and government relations in his new role, a position that takes on added importance given mounting tensions between Apple and its home market regulators.

The leadership reshuffle underscores Apple's need to balance growth with emerging challenges. Under Cook's 13-year tenure, Apple has grown into the world's most valuable company, with market capitalisation exceeding $3 trillion. However, the tech giant faces mounting pressure from competitors in the rapidly evolving artificial intelligence sector, where rivals have moved more aggressively in integrating AI capabilities into their products.

Ternus, who has spent over a decade at Apple and led the development of major hardware innovations, brings deep technical expertise to the role. His promotion signals Apple's commitment to innovation at the product level even as the company confronts regulatory scrutiny in key markets, including India and the United States.

Cook's shift to executive chairman reflects an industry trend where experienced leaders move to governance roles while younger executives handle day-to-day operations. The transition allows Cook to concentrate on policy engagement and stakeholder relations—critical areas as Apple navigates complex regulations around data privacy, manufacturing practices, and market access across its global footprint.