Tim Cook: "My title may change, but my love remains the same"... Hands Apple’s reins to Ternus

[Financial News] Tim Cook, who led Apple Inc. for 15 years after founder Steve Jobs, has officially retired and handed the reins to the next chief executive officer, John Ternus.
On the 31st local time, Cook said in a farewell message to Apple employees, "I send my deep love to the Apple community on my last day as CEO," adding, "Starting tomorrow, my title will change, but my love for the Apple community will never change."
According to AFP and others, Cook also said in an email to all employees that he was grateful for "the privilege of a lifetime to serve as your leader." He also referred to a remark once made by founder Steve Jobs, saying, "We have left our mark on the universe, as Steve put it," and credited employees for his success, saying, "Any success I have achieved is entirely thanks to you."
Going forward, Cook will move into the role of executive chairman of the board and continue to oversee external relations, including policy coordination with the U.S. federal government and governments around the world.
Cook took over the helm of Apple Inc. in August 2011, just before Jobs' death, and led the company for 15 years. During his tenure, Apple brought the Apple Watch and AirPods successfully to market and expanded its lineup of existing products, including the iPhone, iPad and Mac. Although many were skeptical about Apple without Jobs, the company grew to more than 10 times its market capitalization under Cook's leadership.
The new CEO, Ternus, is a hardware expert who graduated from the University of Pennsylvania with a degree in mechanical engineering. Since joining Apple Inc. in 2001, he has worked exclusively in hardware engineering. Ternus now faces the challenge of closing the gap with other major tech companies in AI and reshaping China's supply chain amid pressure from the Donald Trump administration.
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