Apple names John Ternus as new CEO, Tim Cook becomes chairman

Apple said Tim Cook will step down as chief executive officer and become executive chairman, with hardware chief John Ternus set to take over as CEO from September 1, 2026.

The leadership transition, approved unanimously by Apple’s board, is part of a long-term succession plan, the company said on Monday. Cook will remain CEO through the summer to ensure a smooth handover.

“It has been the greatest privilege of my life to be the CEO of Apple,” Cook said, adding that Ternus is “without question the right person to lead Apple into the future.”

Ternus, Apple’s senior vice president of hardware engineering, will also join the board on the same date. He has spent more than two decades at the company and has led development across major product lines, including the iPhone, Mac and AirPods.

“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” Ternus said.

Cook, who became CEO in 2011, oversaw a period of significant growth and expansion. Under his leadership, Apple’s market value rose from about $350 billion to roughly $4 trillion, while annual revenue nearly quadrupled.

He also led the company into new product categories such as the Apple Watch and AirPods, while expanding its services business into a major revenue driver. Apple now operates in more than 200 countries and has an installed base of over 2.5 billion devices.

Arthur Levinson, Apple’s long-serving non-executive chairman, will become lead independent director as part of the changes.

“Tim’s leadership has transformed Apple into the world’s best company,” Levinson said, adding that Ternus is well-positioned to lead the next phase.

The leadership change comes at a critical time for Apple as it faces growing competition in artificial intelligence and emerging technologies. Recent efforts in areas such as virtual reality and AI have drawn mixed reactions, with analysts closely watching the company’s next moves.

Ternus is expected to lead Apple through its next phase of product development, including anticipated updates to its software and hardware ecosystem.

Cook will remain involved in the company as executive chairman, focusing in part on engagement with policymakers and broader strategic issues.