Tim Cook steps down as Apple CEO, 15 years of accomplishments and transition to successor

Apple's Tim Cook stepped down as CEO of the company on September 1st.

When Cook took the job, he didn't try to fill the void left by his co-founder, the late Steve Jobs, a pioneer in creating innovative products. Instead, he followed Jobs' advice: "Never think about what I would do. Just do the right thing."

What are the achievements of the Cook system, which increased market capitalization by 13 times in 15 years?

15 years have passed since then. Mr. Cook, who built Apple into a giant company with a market capitalization of more than $4.5 trillion (about 720 trillion yen) from $350 billion at the time, succeeded the CEO position to John Ternus, who was the head of the company's hardware division. Tarnas will be responsible for steering the company's management in the age of AI.

Mr. Cook assumed the position of Executive Chairman on the same date. He will lead negotiations with policymakers amid ongoing tensions between the United States, where Apple is based, and China, where many of Apple's products are made.

Unlike Jobs' genius for product design, Cook distinguished himself by making Apple's supply chain the envy of every manufacturer. During his tenure, he made use of his philosophy of prioritizing operational efficiency and popularized Apple's cutting-edge products.

A good example of Mr. Cook's business acumen is that he focused on the fact that even after the iPhone was sold, he could continue to earn revenue from customers through various services, and turned his user base of 2.5 billion devices into a sustainable source of revenue. This business has outpaced the growth rate of the hardware business in recent years.

Apple's annual revenue rose from $108 billion at the beginning of his tenure to about $416 billion by 2025. Net profit more than quadrupled to about $112 billion.

The wearable business, which includes iPhone accessories such as the Apple Watch wristwatch and AirPods wireless earphones, which were released under the Cook administration, generated sales of approximately $35 billion in 2025.

Christopher Brown, a financial advisor at Synovus Securities, a private wealth management firm that owns Apple stock, said, ``Mr. Cook not only achieved his own success in management and supply chain, but he also created a 'values-driven' culture within Apple.The result was a virtuous cycle of consumer loyalty and dependence on the brand that generated trillions of dollars in revenue.''

Apple announced in a Sept. 1 filing that Tarnas' annual compensation had been increased to $3 million. Starting in 2027, he will also receive annual stock compensation with a target valuation of $55 million, most of which will be tied to Apple's stock performance. Meanwhile, Cook will receive an annual compensation of $2 million starting September 26 and will be granted restricted stock units (RSUs) with a target valuation of $45 million in 2027.

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