"My Greatest Honor"... Tim Cook, Leader of the $4 Trillion Empire, Steps Down as Apple CEO After 15 Years (Comprehensive)

John Turnus Named Next CEO
Senior Vice President of Hardware Engineering
Apple’s Market Capitalization Grows Tenfold Under 15 Years of Tim Cook

Apple has officially begun its management succession process. Tim Cook, who has led Apple as CEO for about 15 years since 2011, will move to the position of Chairman of the Board, and John Turnus, Senior Vice President of Hardware Engineering, will become the next CEO.

Apple, Board of Directors Unanimously Approves Personnel Decisions

Apple CEO Tim Cook is taking photos at an event held in Los Angeles (LA), California, USA, on January 9 (local time). Photo by Reuters Yonhap News

On April 20 (local time), Apple announced that its Board of Directors had unanimously approved these personnel appointments. The changes will take effect on September 1.

CEO Cook will remain in his current role until this summer and will oversee the management transition together with Turnus. Afterwards, as Chairman of the Board, he will take on certain responsibilities, including responding to global policy issues.

CEO Cook stated, "It has been the greatest honor of my life to lead Apple," adding, "The right person to lead Apple into the future is Turnus." He further commented, "He is someone who possesses an engineer's mindset, the spirit of an innovator, and responsible leadership."

Senior Vice President Turnus said, "I am deeply grateful for the opportunity to carry on Apple's mission," and added, "I will continue to lead the company based on Apple's values and vision."

15 Years Under Cook: Market Cap Grows Tenfold

Cook joined Apple in 1998 and became CEO in 2011. During his tenure, Apple's market capitalization grew more than tenfold from around $350 billion to $4 trillion, and its annual revenue expanded from $108 billion to $416 billion.

Apple is currently operating in over 200 countries and runs more than 500 retail stores. The number of active devices has surpassed 2.5 billion.

AP Yonhap News

Cook expanded new product categories such as Apple Watch, AirPods, and Vision Pro, while boosting performance and energy efficiency through a transition to proprietary chip designs. The services business was also scaled up to reach $100 billion.

He also made privacy a core value, strengthened security standards, and reinforced ESG (Environmental, Social, and Governance) strategies by reducing carbon emissions by more than 60% compared to 2015.

Who Is Turnus... The Key Figure in Hardware

Turnus, who has been named as the next CEO, joined Apple in 2001 and was promoted to Senior Vice President in 2021. He led major product development for the iPad and AirPods, and has overseen all hardware design for the iPhone, Mac, and Apple Watch.

Recently, he spearheaded the development of the MacBook Neo and iPhone 17 series, and contributed to strengthening noise cancellation and hearing assistance features in AirPods.

Meanwhile, Apple is also reorganizing its Board of Directors. Arthur Levinson, who has served as non-executive chairman for 15 years, will move to the role of lead independent director. Senior Vice President Turnus will also join the board.

Levinson stated, "Cook's leadership has elevated Apple to become the world's leading company," and added, "Turnus is also the ideal person to lead Apple into the future."

This content was produced with the assistance of AI translation services.