Tim Cook stepping down as Apple CEO, John Ternus taking over | TechCrunch

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. Apple said Monday afternoon that Tim Cook will step down as CEO, a role he has held since 2011, when he succeeded the late Steve Jobs. Senior Vice President of Hardware Engineering John Ternus will take the top executive position on September 1 of this year. Cook will remain at the company as executive chairman, and Ternus will join Apple’s board of directors. Arthur Levinson, who has served as Apple’s non-executive chairman for the past 15 years, will become lead independent director, also effective September 1. The transition has been expected for some time and ends one of the longer and more impactful runs a CEO has had at any company. Cook took the reins at a moment of true uncertainty — Jobs died of pancreatic cancer just six weeks after formally handing off the job — and inherited a company that many industry watchers and enthusiasts struggled to separate from its famed founder. What he leaves behind is a $4 trillion business with annual revenue that has more than quadrupled