Tim Cook to step down as Apple CEO, become executive chairman, John Ternus to take over in Sep. 2026

Apple announced that longtime chief executive Tim Cook will step into the role of executive chairman, with senior hardware leader John Ternus set to become the company’s next CEO from Sep. 1, 2026.

The transition was approved unanimously by Apple’s board and follows what the company described as a long-term succession planning process.

Cook will remain CEO through the summer while working closely with Ternus to ensure a smooth handover, Apple said in a statement.

Tim Cook to remain involved as executive chairman

After stepping down as CEO, Cook will continue supporting Apple in a strategic capacity, including engaging policymakers globally.

Reflecting on his tenure, Cook said:

“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.”

He added that Ternus is “without question the right person” to lead Apple into its next chapter.

“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour.”

Cook has led Apple since 2011, succeeding Steve Jobs.

During his tenure, Apple’s market value grew from about US$350 billion (S$445 billion) to roughly US$4 trillion (S$5.08 trillion), while annual revenue rose from US$108 billion (S$145 billion) in 2011 to more than US$416 billion (S$528.8 billion) in fiscal year 2025.

He also oversaw the launch of new product categories, including Apple Watch, AirPods and Apple Vision Pro, alongside major expansions in Apple’s services business.

John Ternus spent nearly his entire career at Apple

Ternus joined Apple’s product design team in 2001 and has worked across multiple generations of iPhone, Mac, iPad and Apple Watch.

He became vice president of hardware engineering in 2013 and joined Apple’s executive team in 2021 as senior vice president.

In a statement, Ternus said:

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

He added that working under Jobs and Cook shaped his leadership journey.

“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.”

Ternus will also join Apple’s board of directors when he assumes the CEO role.

Apple board says leadership transition planned for the long term

Apple chairman Arthur Levinson said Cook’s leadership transformed the company and positioned it for continued growth.

“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company.”

He added that the board believes Ternus is “the best possible leader” to succeed him.

Levinson, who has served as Apple’s non-executive chairman for the past 15 years, will become lead independent director following the transition.

Cook oversaw Apple’s expansion into new product categories and services

Since becoming CEO in 2011, Cook led Apple through major shifts including the expansion of its services business into a US$100 billion (S$127.14 billion) segment and the transition to Apple-designed silicon across its devices.

Under his leadership, Apple also expanded its global presence to more than 200 countries and territories and grew its active installed base to over 2.5 billion devices worldwide.

Cook said he looks forward to continuing supporting the company in his new role.

“I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman.”

Top image via Apple Newsroom