After 15 years Tim Cook steps down as Apple CEO
Big news from Apple: Tim Cook is stepping down as CEO after 15 years of leading the company to new heights.
During his time, Apple's value jumped from $350 billion to more than $4.5 trillion, and annual sales rose from $108 billion to $416 billion in the last fiscal year.
Cook isn't leaving entirely: he'll move into an executive chairman role, focusing on policy, while John Ternus (Apple's hardware chief) takes over as CEO and steers the company toward more AI innovation.
Ternus faces AI supply challenges
Ternus has some big shoes to fill and plenty on his plate: tackling past missteps like the rocky launch of Apple Maps and the failed electric car project, pushing forward with AI tech, and working to reduce Apple's reliance on Chinese manufacturing amid global tensions.
The future looks challenging but full of opportunity for both Ternus and Apple.