Apple CEO Tim Cook to Step Down on Sept. 1 After 1,932% Stock Surge
Tim Cook will step down as Apple CEO on Sept. 1, transitioning to executive chairman with hardware chief John Ternus succeeding him. Since Cook’s Aug. 24, 2011 start, Apple stock returned about 1,932%, market cap grew from $350 billion to $4 trillion and Services revenue topped $100 billion annually.
1. CEO Transition Details
Tim Cook, after nearly 15 years as CEO, will move to executive chairman on Sept. 1. John Ternus, Apple’s hardware engineering chief, will become the first new CEO since Cook succeeded Steve Jobs in 2011.
2. Stock Performance Under Cook
From split-adjusted close of $13.25 on Aug. 24, 2011 to $269.28, Apple stock climbed roughly 1,932%. Market capitalization surged from about $350 billion to $4 trillion, turning a $10,000 investment into approximately $239,000.
3. Business Growth and Innovations
Under Cook, annual revenue rose from $108 billion to over $416 billion, with Services eclipsing $100 billion. He oversaw product launches (Apple Watch, AirPods, Vision Pro), custom silicon rollout and supply chain diversification away from China.