Tim Cook steps down as Apple CEO, keeps role with $2 million salary
Tim Cook has transferred his duties to John Ternus while retaining a significant influence within the company and the executive chair position.
Apple CEO Tim Cook officially handed over his responsibilities to veteran hardware chief John Ternus on September 1. Cook will no longer serve as the company's chief executive officer. The transition occurred at Apple's request, with Cook taking the new title of executive chair effective immediately following a strategic review initiated in April. Under his current arrangement, Cook remains involved in key areas but receives an annual salary of $2 million starting September 26. His continued presence focuses on specific strategic fronts, particularly global government relations and public policy interactions. During his tenure, Cook acted as a primary negotiator for the company's relationship with President Donald Trump. This reputation stems from his ability to maintain stable diplomatic ties while managing trade tariffs and internal succession planning. Reports indicate Cook is expected to continue managing Apple's complex relationships with both the United States administration and the Chinese government. These connections remain critical due to the firm's extensive manufacturing supply chain located in Asia. While Cook has stepped down from direct operational command, his influence persists through this new executive leadership role.
