Shafaqna English– After fifteen years at the helm, Tim Cook is set to hand over the reins of Apple to hardware chief John Ternus on September 1, transitioning to the role of executive chairman while guiding the company’s policy engagements amid US-China tensions.
Cook inherited a $350 billion company from Steve Jobs and transformed it into a $4.5 trillion behemoth, not through product design genius but through operational excellence—revolutionizing Apple’s supply chain and turning its 2.5 billion installed iPhone base into a recurring services revenue engine.
Under his leadership, annual sales grew from $108 billion to $416 billion, profits more than quadrupled to $112 billion, and the wearables segment—including Apple Watch and AirPods—generated $35 billion in fiscal 2025. Cook also cultivated a values-driven culture that fostered exceptional brand loyalty and a revenue flywheel worth trillions.
As Ternus steps into the CEO role in the AI era, Cook will remain active as executive chairman, focusing on geopolitical issues. Ternus will receive a $3 million salary and $55 million in equity awards starting 2027, while Cook’s compensation will be $2 million annually with $45 million in restricted stock units.
Source: Reuters