Tim Cook Transitions to Executive Chairman, John Ternus Named New Apple CEO

In a significant leadership transition, Apple has announced that Tim Cook will step into the role of executive chairman of the board, while John Ternus, currently the senior vice president of Hardware Engineering, will assume the position of CEO starting September 1, 2026. This change is the result of a deliberate and strategic succession planning process unanimously approved by Apple's Board of Directors.

Tim Cook, who joined Apple in 1998 and became CEO in 2011, has been pivotal in steering the company through a period of remarkable growth and innovation. Under his leadership, Apple introduced groundbreaking products such as the Apple Watch, AirPods, and Apple Vision Pro, alongside services like iCloud, Apple Pay, Apple TV, and Apple Music. Cook's tenure saw Apple's market capitalization soar from $350 billion to an astounding $4 trillion, with annual revenues increasing from $108 billion in 2011 to over $416 billion in 2025.

Cook's era at Apple was marked by a significant expansion of the company's global presence, now reaching over 200 countries and territories. The number of Apple retail stores has grown to more than 500, and the company's workforce has increased by over 100,000 members. Additionally, the active installed base of Apple devices has surpassed 2.5 billion.

John Ternus, who will take over as CEO, has been a key figure in Apple's hardware engineering division, contributing to the development of many of the company's innovative products. His leadership is expected to continue driving Apple's growth and innovation in the tech industry.