Tim Cook to Transition to Apple Executive Chairman

Tim Cook will step down as CEO of Apple Inc. on September 1 to transition into the role of Executive Chairman. In this new capacity, Cook will shift his focus toward managing high-level geopolitical relationships with foreign leaders.

John Ternus will assume the position of CEO. To support the leadership transition, Ternus has recruited Laura Gross to return to the company. A retired former vice president and former lieutenant from Ternus's tenure in hardware engineering, Gross will serve as a vice president in a cross-functional and cross-disciplinary role that extends beyond her previous engineering expertise.

This leadership change occurs as the company reports a revenue milestone in India, where sales surpassed $10 billion. This growth was primarily driven by a surge in iPhone sales, which rose from $9 billion in the previous fiscal year, with MacBooks and iPads also contributing to the increase.