Apple Inc. announced on Monday that CEO Tim Cook will step down from the role he has held since 2011, marking the end of an era for the world’s most valuable technology company. Effective September 1, 2026, Cook will transition to executive chairman of Apple’s board of directors.
John Ternus, currently senior vice president of Hardware Engineering, will become the company’s next chief executive officer and join the board.
The leadership change, unanimously approved by the board after a long-term succession planning process, was detailed in an official Apple newsroom release dated April 20.
Cook will remain CEO through the summer to ensure a smooth handover, working closely with Ternus. As executive chairman, he will continue to engage with global policymakers and support key strategic initiatives.
“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,” Cook said in a statement.
“I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”
Cook praised his successor effusively: “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor.
He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character.”
Ternus expressed gratitude for the opportunity. “I am profoundly grateful for this opportunity to carry Apple’s mission forward,” he said. “Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor. It has been a privilege to help shape the products and experiences that have changed so much of how we interact with the world and with one another. I am filled with optimism about what we can achieve in the years to come.”
Arthur Levinson, Apple’s non-executive chairman for the past 15 years, will become lead independent director on September 1. “Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company,” Levinson said. “On behalf of the entire board, we are incredibly grateful for his countless contributions… We believe John is the best possible leader to succeed Tim.”
Cook joined Apple in 1998 and became CEO in August 2011 following the death of co-founder Steve Jobs. Under his leadership, the company’s market capitalization grew from approximately $350 billion to more than $4 trillion — a more than 1,000% increase. Annual revenue nearly quadrupled, rising from $108 billion in fiscal 2011 to over $416 billion in fiscal 2025. Apple now operates in more than 200 countries, maintains over 500 retail stores, and boasts an active installed base exceeding 2.5 billion devices.
Key achievements during Cook’s tenure include the launch of new product categories such as Apple Watch, AirPods, and Apple Vision Pro; explosive growth in services (now a $100-billion-plus business); the transition to Apple-designed silicon; and a sharpened focus on privacy, environmental sustainability (carbon footprint reduced more than 60% since 2015), accessibility, and diversity.
The company expanded globally, particularly in emerging markets, while navigating regulatory challenges and supply-chain complexities.
Ternus joined Apple’s product design team in 2001 after earning a bachelor’s degree in mechanical engineering from the University of Pennsylvania and working as a mechanical engineer at Virtual Research Systems.
He became vice president of Hardware Engineering in 2013 and senior vice president in 2021. He has led hardware development across every major category, including multiple generations of iPhone, iPad, Mac, Apple Watch, and AirPods.
His teams drove innovations in reliability, materials science, repairability, and sustainability, including recycled aluminum compounds and 3D-printed titanium components. Recent highlights under his oversight include advancements in the Mac lineup and the latest iPhone models.
Wall Street responded with measured calm to the news, with Apple shares showing only a slight dip in early trading Tuesday. Analysts viewed the internal succession as a sign of strength and continuity, noting Ternus’s deep technical expertise and institutional knowledge. Industry observers highlighted the rarity of such a smooth transition at a company that has had only two CEOs in the 21st century.
As Ternus prepares to lead, Apple faces ongoing challenges and opportunities: intensifying competition in artificial intelligence, potential new hardware categories, regulatory scrutiny, and maintaining its premium brand amid global economic shifts. Cook’s continued involvement as executive chairman is expected to provide stability during the transition.
The announcement underscores Apple’s commitment to long-term planning and its evolution from the Jobs era into a mature, globally dominant enterprise poised for the next wave of innovation.
Cook leaves behind a legacy of operational excellence and cultural stewardship that transformed Apple into a Fortune 40-scale services powerhouse and a leader in consumer technology. Ternus inherits a company in robust health, with the full support of its founder’s successor and a board committed to its founding vision.
Source: TechCrunch.
