Tim Cook to Leave Apple CEO Role, John Ternus Named Successor
Apple CEO Tim Cook will step down at the end of August after 15 years, remaining as executive chairman, while senior vice president of hardware engineering John Ternus will assume the CEO position.
Apple announced that Tim Cook will relinquish his chief executive duties at the end of August, transitioning to the role of executive chairman. Cook, who has led the company since 2011, sent an internal memo stating he is "not leaving Apple" but is stepping away from a role he "loved deeply." He expressed gratitude for the collective effort that drove the company's growth.
John Ternus, currently senior vice president of hardware engineering, will take over as CEO. Cook praised Ternus in his farewell note, describing him as "brilliant, wonderful and capable" and emphasizing confidence in his ability to lead Apple forward.
During Cook's tenure, Apple expanded its product lineup with the Apple Watch, AirPods, Apple TV+, and Apple Card, and grew its services business with Apple Pay and Apple Music. The company also achieved several market-capitalization milestones, becoming the first U.S. public company to reach $1 trillion in 2018, $2 trillion in 2020, $3 trillion in 2022, and $4 trillion in October 2025. Apple now has a market value of roughly $4.6 trillion, ranking second behind Nvidia.
The new CEO is expected to lead Apple’s upcoming September event, where the firm may unveil its latest iPhone and possibly a foldable model, according to analyst reports.