Apple has announced that Tim Cook will be stepping down as chief executive officer to become the Executive Chairman, while John Ternus will take over as CEO on Thursday, September 1, 2026.
The decision, approved unanimously by the board, follows what the company described as a “long-term succession planning process.” Cook will remain CEO through the summer and work closely with Ternus to ensure a smooth handover.
In a statement released from Apple’s headquarters in California, Cook said leading the company had been “the greatest privilege of my life,” adding:
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor… I could not be more confident in his abilities and his character.”
Ternus, who has spent nearly his entire career at Apple since joining in 2001, acknowledged the weight of the role.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” he said. “I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
As part of the changes, Arthur Levinson, who has served as non-executive chairman for 15 years, will become Lead Independent Director on the same date. Ternus will also join the board.
Cook, 65, became CEO in 2011, succeeding Steve Jobs. At the time, Apple was already successful but far smaller than it is today.
Under Cook’s leadership, Apple’s market value grew from about $350 billion in 2011 to roughly $4 trillion in 2026, while annual revenue rose from $108 billion to over $416 billion. The company expanded its presence to more than 200 countries and territories and built an installed base of over 2.5 billion active devices.
Cook also oversaw the introduction of new product categories such as Apple Watch and AirPods, and the expansion of services, including Apple Music, Apple Pay, and iCloud, into a business generating more than $100 billion annually.
His tenure focused on discipline and scale rather than dramatic reinvention. Dipanjan Chatterjee of Forrester noted that Cook “transformed Apple into a durable, resilient financial powerhouse,” even as expectations for a major new breakthrough product remained.
Unlike Tim Cook, whose background is in operations and supply chain management, Ternus is an engineer who has led hardware development across major product lines, including iPhone, Mac, and iPad.
In its statement, Apple emphasized its role in recent devices such as the iPhone 17 lineup and Mac developments, as well as work on materials, durability, and product design.
Levinson said the board believes Ternus is well-positioned for the next phase:
“We believe John is the best possible leader to succeed Tim… his deep technical knowledge and relentless focus on creating great products will help lead Apple to an extraordinary future”.
While Apple has pointed to continuity, some things may change during Ternus’s tenure:
First, given Ternus’s engineering background, he may place greater focus on hardware innovation at this time.
Second, Apple faces pressure to build its position in AI, where it has been seen as slower than some rivals. Integrating AI more directly into devices may become a priority.
However, core elements of Apple’s strategy are expected to remain intact, including its emphasis on privacy and tightly integrated hardware and software.
Cook will remain closely involved in the company’s affairs as Executive Chairman, particularly in global policy engagement, ensuring that influence at the top does not disappear overnight.
