Tim Cook Steps Down As Apple CEO But Keeps Key Role At Company
Tim Cook has stepped down as chief executive of Apple after 15 years at the helm, but the company is retaining his experience and government relationships as he moves into the role of executive chairman.
Cook handed the CEO position to longtime Apple hardware chief John Ternus on Tuesday. He will remain with the technology company as executive chairman from September 26, with an annual salary of $2 million.
In his new position, Cook will continue to assist Apple with selected responsibilities, including engaging with policymakers around the world.
He will also receive an equity award with a target value of $45 million, according to a regulatory filing.
Cook's continued involvement comes as Apple navigates increasingly complex relationships with governments in the United States and China, while managing a supply chain heavily concentrated in Asia.
Cook’s Relationship With Trump
During his tenure, Cook developed a close working relationship with US President Donald Trump, particularly around tariffs, manufacturing and Apple's operations in China and India.
Trump publicly credited Cook with maintaining direct communication with him. The relationship became particularly important as the administration sought to encourage technology companies to increase manufacturing in the United States.
In February 2025, Apple announced plans to invest $500 billion in the US over four years, including the creation of 20,000 jobs.
The relationship was not without disagreements. In May 2025, Trump criticised Apple's decision to expand iPhone production in India as the company sought to reduce its dependence on China.
Trump subsequently threatened tariffs of at least 25% on iPhones manufactured outside the United States.
Cook later appeared alongside Trump at the White House as Apple announced a further $100 billion commitment to US manufacturing, taking its planned domestic spending to $600 billion over four years.
The announcement came as Trump prepared to impose a proposed tariff of about 100% on imported semiconductor chips, while indicating that companies manufacturing in the US would be exempt.
Apple’s China Challenge
Cook's role in managing Apple's government relationships extends beyond Washington.
Apple remains heavily dependent on Asian manufacturing, despite efforts to diversify production away from China. That leaves the company exposed to tensions between the US and China, the world's two largest economies.
Cook has spent years managing Apple's relationship with Beijing and has remained involved in discussions affecting the company's operations in China.
His continued role as executive chairman is therefore expected to give Apple access to an executive with extensive experience navigating government relations at a time when trade, tariffs and manufacturing policy remain important to the company's global operations.
Cook became Apple's CEO in 2011, shortly before co-founder Steve Jobs died.
During his 15-year tenure, Apple's market capitalisation grew from roughly $347 billion to about $4.6 trillion, marking a dramatic expansion of the company's value under his leadership.
As Cook moves away from day-to-day management, Ternus takes responsibility for leading Apple as chief executive, while Cook remains positioned to contribute to selected strategic and government-facing matters.
