Tim Cook to Step Down as Apple CEO; John Ternus Named Successor
Apple CEO Tim Cook will step down on September 1, 2026, transitioning to executive chairman, with John Ternus, Senior Vice President of Hardware Engineering, succeeding him as CEO.
Apple announced that CEO Tim Cook will step down on September 1, 2026, after 15 years at the helm. Cook will transition to the role of executive chairman of Apple's board of directors.
John Ternus, currently Senior Vice President of Hardware Engineering, will succeed Cook as CEO and join the board of directors. Ternus, who has been with Apple since 2001, has played key roles in developing products such as the iPad, AirPods, and various generations of iPhones, Macs, and Apple Watches.
During Cook's tenure, Apple's market capitalization increased from approximately $350 billion in 2011 to about $4 trillion. The company's annual revenue also quadrupled, reaching over $416 billion in 2025.
Cook expressed his gratitude, stating, "It has been the greatest privilege of my life to be the CEO of Apple." He praised Ternus, saying, "John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor."
Ternus acknowledged the opportunity, stating, "I am profoundly grateful for this opportunity to carry Apple's mission forward." He emphasized his commitment to leading with the values and vision that have defined Apple.
The transition was approved by Apple's Board of Directors and is the result of a "thoughtful, long-term succession planning process." Arthur Levinson, the current board chair, will become the lead independent director on the board.