Apple announced Monday that Chief Executive Officer Tim Cook will step down after 15 years in the role and transition to executive chairman, with John Ternus set to become CEO on September 1, 2026, as part of a planned leadership change.
The company said Ternus, currently senior vice president of Hardware Engineering and a 25-year Apple veteran, will take over as chief executive during a transition period designed to ensure continuity. Cook will remain involved as executive chairman, focusing on areas including global policy.
Cook, who has led Apple since 2011, said in the company’s announcement that he loves Apple “with all of my being” and described leading it as the “greatest privilege of my life.” In a separate message to customers, he expressed appreciation, saying he feels “a gratitude that I cannot put into words.”
He joined Apple in 1998 and initially oversaw worldwide sales and operations. In 2009, he began managing day-to-day operations while co-founder Steve Jobs took medical leave due to complications from pancreatic cancer. Cook formally assumed the role of CEO in 2011, months before Jobs’ death.
During his tenure, Apple expanded its core product lines, including the iPhone, iPad, and Mac, and introduced new products such as the Apple Watch, AirPods, and Apple Vision Pro. The company also developed services including Apple Pay, Apple TV, and Apple Music, integrating them into its broader ecosystem.
Under Cook’s leadership, Apple’s market value grew from $350bn in 2011 to approximately $4tn, becoming the first publicly traded company to reach a valuation of $1tn and later surpassing that level.
The leadership transition is scheduled to take effect on September 1, 2026, with a close handover period between Cook and Ternus as Apple moves into its next phase.
