Overview
- Apple confirmed Friday that Tim Cook will leave the CEO role on September 1 and that John Ternus will assume day-to-day leadership of the company.
- In a CBS News interview conducted at Apple’s new Houston Advanced Manufacturing Center, Cook said he hopes people will remember him as "a good and decent man."
- Cook will move into the executive chairman role and is expected to remain involved in select areas of the business, including serving as a special government liaison.
- Apple reported $109 billion in revenue for its most recent quarter but warned that a rapid surge in memory prices has forced device price increases and creates an early operational test for the new CEO.
- Cook advised Ternus to be deliberate about where he spends his time, and the Houston manufacturing push signals a greater focus on U.S. production and government relationships as Ternus steps in.