Apple CEO Tim Cook Is Stepping Down

John Ternus, the company's senior vice president of hardware engineering, will replace Cook as CEO on September 1. Cook will stay on as executive chairman. Tim Cook is stepping down as the CEO of Apple and transitioning to a role as the company's executive chairman, effective September 1, the company announced on Monday. John Ternus, Apple's senior vice president of hardware engineering, will replace Cook as CEO . Cook's departure had been speculated upon in recent months. In an era when every other Big Tech company has thrown significant resources at developing advanced AI, Apple is widely perceived as a laggard.