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. Ternus’ old job will fall to Johny Srouji, who was elevated to chief hardware officer from a senior vice president on Monday. Srouji has been instrumental to
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