Apple Inc. has announced a major leadership change at the highest levels of the company. Tim Cook will step down from his position as chief executive officer to become executive chairman of the board of directors. John Ternus, currently serving as senior vice president of Hardware Engineering, has been named the next chief executive officer. The transition will take effect on September 1, 2026, following unanimous approval by the board of directors after a long-term succession planning process.
Cook, who joined Apple in 1998 and has led the company as chief executive officer since 2011, will continue in his current role through the summer. He will work directly with Ternus during this period to support a smooth handover. Once the transition is complete, Cook will remain involved with Apple in his new capacity as executive chairman, focusing in part on engagement with policymakers around the world.
During Cook’s tenure as chief executive officer, Apple achieved substantial growth. The company’s market capitalization rose from approximately 350 billion dollars to 4 trillion dollars, an increase of more than 1,000 percent. Annual revenue nearly quadrupled, climbing from 108 billion dollars in fiscal year 2011 to more than 416 billion dollars in fiscal year 2025. The company expanded its global operations to more than 200 countries and territories and now operates over 500 retail stores. The active installed base of Apple devices grew to more than 2.5 billion units, and the workforce increased by more than 100,000 team members.
Cook oversaw the introduction of new product categories, including the Apple Watch, AirPods, and Apple Vision Pro. The services business expanded significantly under his leadership, becoming a more than 100 billion dollar operation that encompasses offerings such as iCloud, Apple Pay, Apple TV+, and Apple Music. Apple also advanced its wearables segment, which has contributed to health and safety features for users. The company shifted to Apple-designed silicon chips, delivering improvements in power efficiency and performance. Sustainability initiatives resulted in a carbon footprint reduction of more than 60 percent from 2015 levels, even as revenue nearly doubled. Privacy, accessibility, and an inclusive workplace culture were integrated into the company’s decision-making and product development processes.
Ternus has worked at Apple since 2001, when he joined the product design team. He advanced to vice president of Hardware Engineering in 2013 and was promoted to senior vice president in 2021. In these roles, he has led hardware engineering efforts across Apple’s full range of products, including the iPad, AirPods, multiple generations of the iPhone and Mac, and the Apple Watch. His contributions have included work on product reliability and durability, as well as innovations in materials that support environmental goals, such as a new recycled aluminum compound and the use of 3-D printed titanium components. Recent hardware developments under his direction have featured updates to the Mac lineup, including a new laptop model designed to increase accessibility, and a refreshed iPhone series that includes advanced Pro, Pro Max, Air, and standard models. AirPods advancements have focused on audio performance, noise cancellation, and additional health capabilities.
As part of the board changes effective September 1, 2026, Arthur Levinson, who has served as non-executive chairman for the past 15 years, will become lead independent director. Ternus will join the board of directors at the same time.
The succession plan reflects Apple’s approach of developing leadership from within its long-serving executive ranks. The company, headquartered in Cupertino, continues to operate as a major provider of consumer electronics, software, and services on a global scale.
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