Tim Cook steps down as Apple CEO: John Ternus to take over on September 1, 2026

Apple has announced that Tim Cook will step down as chief executive officer on September 1, 2026, transitioning to the role of executive chairman of the company’s board of directors. John Ternus, currently Apple’s senior vice president of Hardware Engineering, will succeed him as CEO. The change was approved unanimously by the board and follows what the company described as a long-term succession planning process.

Tim Cook has led Apple since August 2011, when he succeeded co-founder Steve Jobs. Over fifteen years at the helm, he oversaw one of the most financially remarkable runs in corporate history: Apple’s market capitalisation grew from approximately $350 billion when he took charge to over $4 trillion today, while annual revenue nearly quadrupled from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025.

What Tim Cook built at Apple

Tim Cook’s tenure was defined as much by business discipline as by product ambition. Under his leadership, Apple launched entirely new product categories, including Apple Watch, AirPods, and Apple Vision Pro, and built out a services empire spanning iCloud, Apple Pay, Apple TV, and Apple Music. The company now operates more than 500 retail stores across over 200 countries and territories, with an active installed base exceeding 2.5 billion devices. Apple’s global headcount grew by more than 100,000 employees during his time as CEO.

Though he never occupied the same cultural space as Steve Jobs, Tim Cook shaped Apple into something arguably more durable: a company embedded in daily life across nearly every market on earth. Apple’s best-ever quarter for iPhone sales was reported earlier this year, driven by renewed demand in China.

Who is John Ternus, Apple’s new CEO?

John Ternus has been at Apple since 2001, making him one of its longest-serving senior executives. As head of Hardware Engineering, he has overseen the development of the Mac, iPhone, iPad, and AirPods product lines, as well as Apple Silicon,  the company’s landmark shift away from Intel processors. He has been widely regarded as one of the most technically capable executives in Apple’s leadership structure and was considered a leading succession candidate for some time.

Meet John Ternus, the new Apple CEO

Ternus inherits a company that is enormously profitable but faces mounting scrutiny over its direction in the AI era. Apple has moved more cautiously than many of its competitors in integrating artificial intelligence into its products, opting at times to embed third-party AI tools rather than build proprietary systems. Investors and analysts will be watching closely to see whether Ternus, as a hardware engineer by background, charts a more decisive course on AI, or doubles down on the premium device experience that has always been Apple’s core identity.