Tim Cook steps down as Apple CEO after 15 years

Tim Cook steps down as Apple CEO after 15 years at the helm and a transformation that propelled Cupertino into the ranks of the world's most valuable companies.

All eyes are now on John Ternus, his successor, who takes over as CEO on September 1 and will face his first public test on September 9, when he presents Apple's new products, including the much-anticipated foldable iPhone, CE Report quotes ANSA.

The new CEO faces many challenges, starting with artificial intelligence, an area in which Cupertino has fallen behind its rivals. Then there are supply chains: despite efforts to diversify, Apple remains heavily dependent on China, and the trade battle between the United States and China exposes the company to risks.

Wall Street will closely watch Ternus' first moves, aware that Cupertino remains a safe investment during a period of high uncertainty but appears to have lost some of its innovative momentum. The days of the iPod and iPhone launches now seem distant. During Cook's tenure, Apple's market value soared to nearly $5 trillion, but the company never launched another product on the scale of the iPhone.

Adding to the challenges is the fact that Apple no longer manufactures many of the key components needed for its products. This drives up costs, including for consumers, while also creating shortages that prevent Cupertino from fully meeting market demand.

Ternus brings extensive experience within the company, having spent 25 years helping Apple refine its products. He worked as an engineer on the Mac before taking responsibility for the iPad, AirPods and iPhone.

For now, Cook and Ternus have done little to dispel the impression that the Ternus era will be an extension of his predecessor's tenure, presenting a united front aimed at ensuring continuity or, at least, a gradual transition that does not alarm investors and secures the new CEO's long-term success.

Photo: Apple.com