After 15 years as CEO at Apple, Tim Cook has taken on the role of Executive Chairman in the company.
John Ternus has been named the new CEO of Apple. He has been at the company since 2001, and in 2021 he was named Senior Vice President of Hardware Engineering, leading the teams behind iPhone, iPad, Mac, Apple Watch, AirPods, Apple Vision Pro, and more.
Under Mr Cook’s tenure, Apple got to be the first publicly traded US company with a $1 trillion market cap. The company then reached $2 trillion in 2020, $3 trillion in 2022, then reached $4 trillion in October of last year.
A year after he took the helm at the company, Apple Music turned iTunes to a subscription-based model, and in 2016 Apple's AirPods launched, which are a stable for many apple fans worldwide.
‘I am most proud of what an annual report could never capture’
On his last day, Mr Cook sent a heartfelt memo to his employees, thanking them for the support throughout his years at CEO.
Team,
Today is my last day as CEO of Apple. This is a moment I always knew would come one day, and yet it is still hard to believe it has arrived and I am writing these words. I love this company and the team behind it, and I couldn’t let this day pass without sending a note to you to tell you how grateful I am for the outpouring of affection you’ve sent my way, for the way you’ve shown up each and every day, and most of all, for the privilege of a lifetime serving as your leader.
The truth is, whatever there is to say about my success, I know it is all because of you. You have brought out the best in me. In all my life, I have never seen or been with such an extraordinary team of people before, and every day I get to see more examples of that.
There is something truly special about Apple. I am most proud of what an annual report could never capture. This place is proof that culture triumphs over everything. We share a belief that what we build matters and that we have both the opportunity and the responsibility to leave the world better than we found it. That purpose is part of what makes this place extraordinary. Apple helps nurture it, but I believe it lived within each of you long before you arrived here. It is what brought you to this company and what continues to drive the work you do every day.
Together, we have created something far greater than any one of us could have imagined or accomplished alone. And that’s the secret to our success. We bring out the best in each other. We lift each other up. We have made it possible to leave our “dent in the universe,” as Steve once described it, because of who we are and what we believe, because of what we value and how we see the world. How fortunate we are. How fortunate I am.
As you know, I am not leaving Apple. But I am stepping away from a role that I have loved deeply. I will miss this work in ways I can only begin to imagine, even as I remain completely at peace with my decision. I will miss leading you and being with you for every step, even as I take enormous comfort in handing the helm to someone as brilliant and wonderful and capable as John. Few people understand what it takes to build products that change the world the way John does and I could not be more excited for his leadership.
I hope you know how much I appreciate you and what an honor it has been to be your CEO. Most of all, I hope you will continue to be proud to be part of this remarkable place we call Apple and always give it your very best. When we bring our whole selves to this work, with care for one another and for the people we serve, there is no limit to the profound difference we can make.
I look forward to seeing you in my new role at Apple Park and around the world.
With all I have and all I am, I am always.
Yours,
Tim
The company recently has been facing challenges like AI, as it trails behind its peers in this segment.
Mr Ternus will now inherit a significant bet already made under Mr Cook’s leadership. In January, Apple agreed to pay Google around $1 billion a year to license a custom version of Gemini, Google’s AI model, for a revamped Siri capable of carrying out actions across apps and handling multi-turn conversations. At the time, Apple said its existing ChatGPT integration, which allows Siri to pass more complex queries to OpenAI’s model, would remain largely unchanged.
Issues with Siri have been rampant the last few months, with many users complaining that the model that it is operating is “dumb.”
The first public test for Mr Ternus comes on 9th September, as the company is expected to launch the next iPhone alongside other gadgets in a live event.
Featured Image:
Tim Cook / apple.com
Asset-light strategy powering Corinthia’s international growth, says Group Chairman Alfred Pisani
The Maltese hospitality firm is leveraging its development and management capabilities without committing significant capital to property ownership.
Gozo Business Chamber CEO underlines need for ‘bold decisions’ after power cuts
'We need to rethink the economic model which has been projected in Gozo,' he said.
Ludwig Micallef joins RSM Malta as Director for Digital Transformation and AI
Ludwig Micallef brings nearly two decades of experience in technology, transformation and software engineering, company says.
Building long-term value through commercial property and urban regeneration
Central Business Centres plc's approach to property investment goes beyond acquisition and ownership.
