‘Steve Jobs was never going to be an easy act to follow’: How Tim Cook transformed Apple into a ‘durable’ tech industry powerhouse

Apple CEO Tim Cook has announced plans to step down after more than 15 years leading the company.

John Ternus, head of hardware engineering at the tech giant, will assume the role of chief executive on 1 September, with Cook stepping into the role of executive chairman.

Cook will work closely with Ternus during the transition period, and will continue to “assist with certain aspects of the company” in his new role as executive chairman.

In a statement, Cook said serving as CEO has been the “greatest privilege of my life”.

"I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world,” he said.

Cook’s replacement is an Apple veteran, having spent more than 25 years at the company. Ternus currently leads the hardware engineering division and has long been touted as a leading figure to replace Cook.

Cook added that Ternus “has the mind of an engineer” and is well-placed to take the reins at the company.

“He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future,” Cook commented.

“I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman."

Tim Cook had a hard act to follow

Cook first joined Apple in 1998 and has served as CEO since 2011, having stepped in to replace co-founder Steve Jobs just months before his death.

Under his leadership, the company has expanded significantly, launching a range of new products including the Apple Watch, Apple Vision Pro, and AirPods series - with Ternus closely involved in the development of these ranges.

Services including iCloud, Apple TV, Apple Pay, and Apple Music were also launched under Cook’s leadership. The iPhone, a staple of the company’s offerings, has retained continued popularity across his tenure.

In 2018, the firm became the first public to be valued at $1 trillion. Since taking over, the company’s market capitalization surged from roughly $350 billion to around $4 trillion.

Cook hasn’t quite achieved the same status as a tech visionary like Jobs, however.

Dipanjan Chatterjee, VP principal analyst at Forrester, said Jobs “was never going to be an easy act to follow”, yet despite this the Apple chief transformed the company into a “durable, resilient financial powerhouse”.

“Cook’s legacy will be defined by steady, disciplined operational stewardship - proof that a company can be more than just exciting and visionary; it can also be immensely valuable to all its stakeholders,” he commented.

Chatterjee noted that while Apple’s growth trajectory has moved at a steady pace over the last 15 years, Cook hasn’t exactly overseen a step-change in innovation that would “reset Apple’s competitive position for the next two decades” – much like Jobs did with the iPhone.

This means the tech giant is still largely “structurally dependent” on the product range and requires a new growth engine.

Since the advent of generative AI in late 2022, questions have been raised about Apple’s approach to the technology, with some industry stakeholders highlighting its tentative steps in this domain.

“That’s where John Ternus comes in,” Chatterjee said. “Ternus is a hardware engineer, which signals that Apple will seek differentiation in its physical products even as it looks to reframe the device as a substrate for intelligent experiences.”

Chatterjee added that Ternus’ appointment could mark a “quiet pivot back toward product intimacy” as well as a tighter coupling between hardware, software, and future AI capabilities.

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