Apple CEO Tim Cook abruptly steps down
Apple boss Tim Cook has stepped down and named his successor in a dramatic leadership handover.
The Silicon Valley giant said on Monday that its long-serving chief executive officer will step aside after 15 years and become executive chairman.
Moving into the spotlight is John Ternus, 51, Apple’s widely respected hardware chief, who will take over as CEO on September 1.
Cook, 65, will remain firmly at the heart of the company's strategic direction while handing over day-to-day control as the company prepares for its biggest iPhone overhaul in years, including what could be its first foldable model.
Stock in Apple, the world's third-biggest company, was down in after-hours trading following the unexpected announcement.
The announcement underscores Apple's continued focus on hardware innovation, with Ternus - long seen as a key architect behind many of the company's flagship products - now poised to lead the entire organization into its next chapter.
'John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor,' Cook said in a statement. 'He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future.'
Meanwhile, the executive reshuffle does not stop there. …
https://www.dailymail.co.uk/yourmoney/article-15749977/apple-ceo-tim-cook-steps-down.html