Cramer: Why Tim Cook deserves more credit for his accomplishments as Apple CEO
Tim Cook's defining achievement at Apple has been building an enduring consumer franchise through 15 years of changing technology and competition.
Today marks the final day of Tim Cook's tenure as Apple's CEO, as he will be succeeded by John Ternus tomorrow. Cook served as CEO for 15 years, taking over in 2011 just two months after Steve Jobs' passing. In April, Apple announced Cook's stepping down on September 1, with Ternus set to assume the role. However, Cook will not be entirely absent from the company; he will become Apple's executive chairman.
John Ternus joined Apple in 2001 as a member of the Product Design team and quickly climbed the ranks, becoming senior vice president of Hardware Engineering in January 2021. Bloomberg reported that Cook's focus as executive chairman will involve managing Apple's relationships with President Trump and the Chinese government. Cook has told Ternus that he will continue managing these relationships and any other tasks deemed necessary by his successor.
Although Cook hinted at plans to engage in outdoor activities and spend time at his vacation home in Palm Springs, he emphasized that the company remains his top priority. Ternus is expected to take over Cook's current office at Apple Park. The Information revealed that Cook's executive assistant will remain with Ternus.
A farewell dinner was held for Cook at Apple Park last week, attended by Ternus, Laurene Powell Jobs, and other current and former Apple executives. OneRepublic, Cook's favorite band, performed at the event. The transition coincides with Apple's "Surprise and Shine" special event scheduled for September 9, which Ternus will lead. The event will introduce the foldable iPhone Ultra, iPhone 18 Pro, new Apple Watch models, and more.
In recent weeks, Apple has announced several unpopular changes, including price hikes on most hardware products (excluding the iPhone) and subscription services like Apple TV, Apple Music, and Apple One. This sets the stage for Ternus to take over and focus on Apple's most ambitious product cycle yet.
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