00:00It's Benzinga bringing Wall Street to Main Street.
00:02Apple announced after Monday's close that Tim Cook will step down as CEO and become
00:06executive chairman, according to Benzinga. John Ternus will become CEO effective September 1st,
00:132026, following a unanimous board vote. Cook will remain CEO through the summer to manage
00:18the transition. In a statement, Cook expressed gratitude for leading the company and working
00:23with a team dedicated to creating products and services for customers. Apple's market cap grew
00:28from about $350 billion to $4 trillion under his leadership, while annual revenue rose to over
00:34$416 billion. He oversaw launches including Apple Watch, AirPods, and Apple Vision Pro,
00:42expanded services to over $100 billion and led the shift to Apple-designed silicon.
00:48Ternus, a 25-year veteran, currently leads hardware engineering and joined the executive team in
00:532021. Shares rose 1.04% in regular trading on Monday and fell 0.84% after hours to $270
01:01.76,
01:03according to Benzinga ProData. For all things money, visit Benzinga.com.
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