Tim Cook will step down as Apple CEO on September 1 after 15 years, with hardware engineering chief John Ternus named as successor while Cook becomes executive chairman. The change occurs as Apple reports all-time quarterly revenue records and maintains its position as one of the world's most valuable companies.
Cook praised him as a visionary whose many contributions already defy easy counting and called him "without question the right person to lead Apple into the future."
Cook described his time as CEO as "the greatest privilege of my life" and expressed deep gratitude for the "ingenious, innovative, creative, and deeply caring people" on Apple's team.
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