NEW YORK, April 21 – Apple Inc. has announced that Tim Cook will step down as chief executive officer and transition to executive chairman of the company’s board of directors, with John Ternus, currently senior vice president of Hardware Engineering, succeeding him as CEO. Both changes take effect on September 1, 2026, following unanimous approval by the board of directors.
Cook will remain in the CEO role working closely with Ternus to ensure a smooth handover. In his new capacity as executive chairman, Cook is expected to focus on engaging with policymakers around the world.
The transition marks Apple’s first CEO change since Cook himself succeeded Steve Jobs in 2011, shortly before Jobs’ death. Ternus will become Apple’s eighth chief executive
Cook, 65, leaves behind a record of substantial growth. Apple’s market capitalisation increased more than 20 fold during his tenure, closing on Monday at $4 trillion.
Under his leadership, the company launched product categories including Apple Watch, AirPods, and Apple Vision Pro, while building its services business into what Apple describes as a more than $100 billion operation.
Ternus, 50, joined Apple’s product design team in 2001 and was elevated to the executive team in 2021 as senior vice president of Hardware Engineering. His tenure has spanned the development of iPad, AirPods, multiple generations of iPhone, Mac, and Apple Watch.
