Bloomberg notes the astonishing gains Apple stockholders enjoyed under Tim Cook's leadership, with a cumulative gain of 2,275%, or 2,736% including dividends. This makes him a tough act to follow, but new CEO John Ternus doesn't have to emulate Cook's management style.

Cook inherited a company with a market cap under $350 billion and built it into a diverse $4.6 trillion business selling iPhones, Macs, Watches, AirPods, and financial services. During his tenure, shares climbed 2,736% on a total-return basis.

However, Ternus shouldn't worry about matching this financial success. Both Cook and Steve Jobs argued that financial success is a side effect of focusing on great products, not the primary goal. Jobs famously said, "If you focus on making really great products, then the profits will follow." Cook echoed this, prioritizing long-term direction over quarterly results.

Jobs also advised Cook, "Don't ask what I would do. Just do the right thing." Ternus should follow this same advice, running Apple in his own way, focused on product development and company culture. He will likely be a very different CEO, just as Cook differed from Jobs. The goal isn't to emulate past formulas but to look ahead and follow his own North Star.