Tim Cook to Step Down as Apple CEO; John Ternus Named Successor

Apple announced that CEO Tim Cook will step down on September 1, 2026, transitioning to the role of executive chairman. John Ternus, currently Senior Vice President of Hardware Engineering, will succeed him as CEO.

Cook, who has led Apple since 2011, expressed gratitude for his tenure, stating, "It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company."

Ternus, who joined Apple in 2001, has played a pivotal role in the development of key products, including the iPad, AirPods, and the transition to Apple Silicon. He remarked, "I am profoundly grateful for this opportunity to carry Apple's mission forward."

The transition was unanimously approved by Apple's Board of Directors, with current board chair Arthur Levinson set to become the lead independent director.

Under Cook's leadership, Apple experienced significant growth, with its market capitalization increasing from $350 billion to $4 trillion and annual revenue rising from $108 billion to over $416 billion.

Ternus, 50, holds a mechanical engineering degree from the University of Pennsylvania and has been instrumental in leading hardware innovation at Apple.

As executive chairman, Cook will continue to assist with certain aspects of the company, including engaging with policymakers worldwide.