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Tim Cook will retire as Apple's CEO on September 1, transitioning to executive chairman of the board. John Ternus, currently senior vice president of Hardware Engineering with 25 years at Apple, will become the new CEO. Under Cook's tenure since 2011, Apple's market cap grew from ~$350 billion to $4 trillion and annual revenue nearly quadrupled to $416 billion. Ternus has overseen hardware engineering for iPhone, iPad, Mac, AirPods, and Apple Watch.

Tim Cook Steps Down as Apple's CEO