Tim Cook steps down at Apple

Apple CEO Tim Cook is stepping down from his role after leading the tech giant since 2011, a period that saw the company's market valuation soar to over $4 trillion.

Cook will transition to the position of executive chairman of the board, where he will continue to oversee global policy and government relations.

John Ternus, a long-time Apple veteran and current head of hardware engineering, has been named as the incoming chief executive.

The leadership transition comes at a pivotal moment as Apple increasingly focuses on integrating artificial intelligence across its product ecosystem.