Cook hands Apple to Ternus
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 21 April 2026
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:07.6 | It's good to have you here on this busy Tuesday, April 21st. I'm Julie Morgan. |
| 0:14.5 | After 15 years leading Apple, Tim Cook is stepping down as CEO and will become executive chairman, effective September 1st. |
| 0:23.0 | He will be replaced by John Ternis, who has been Apple's senior vice president of hardware engineering. |
| 0:29.4 | Apple's shares are down 0.6% in pre-market action following the announcement. |
| 0:35.2 | Cook will remain in his role as CEO through the summer and will work with Ternis during |
| 0:39.8 | the transition. |
| 0:41.2 | Tim Cook will still assist with certain aspects for Apple, including engaging policy makers |
| 0:46.9 | around the world. |
| 0:48.5 | Cook officially became Apple CEO on August 24th of 2011, succeeding company co-founder Steve Jobs, who stepped down for health |
| 0:57.2 | issues. Jobs passed away soon after on October 5th. Cook said in a statement that it has been the |
| 1:03.5 | greatest privilege of his life to be the CEO of Apple and to have been trusted to lead such an |
| 1:09.1 | extraordinary company. |
| 1:15.9 | He went on to say that John Turnus has the mind of an engineer, the soul of an innovator, |
| 1:18.9 | and the heart to lead with integrity and honor. |
| 1:26.5 | He said Turnus is a visionary whose contributions to Apple over 25 years are already too numerous to count, |
| 1:29.5 | and he is without question the right person to lead Apple into the future. Cook also shared a letter on Apple's website expressing his thanks to the Apple |
| 1:35.7 | community. The CEO of JetBlue Airways has reassured employees in an internal memo that the |
| 1:43.1 | carrier is not considering filing for bankruptcy |
| 1:46.0 | protection this year. The comments were in reaction to speculation that the high cost of jet fuel |
| 1:52.1 | would pressure the company's liquidity. They noted that JetBlue has sufficient access to |
| 1:57.6 | additional capital, including a recent $500 million loan backed by aircraft, with an |
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