Tim Cook is stepping down as CEO of Apple, and will pass the reins to John Ternus, currently senior vice-president of hardware engineering, in September 2026.
Cook will become executive chairman of Apple’s board of directors, in which role he will assist with certain aspects of the company, including engaging with policymakers around the world.
“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 says.
“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.”
Ternus comments: “I am profoundly grateful for this opportunity to carry Apple’s mission forward. 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, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us. I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
Cook joined Apple in 1998. He became CEO in 2011 and has overseen the introduction of numerous products and services, including new categories like Apple Watch, AirPods, and Apple Vision Pro, and services ranging from iCloud and Apple Pay to Apple TV and Apple Music.
He was also instrumental in expanding existing product lines.
Under Cook’s leadership Apple has grown from a market capitalisation of approximately $350-billion to $4-trillion, representing a more than 1 000% increase, and yearly revenue has nearly quadrupled, from $108-billion in fiscal year 2011 to more than $416-billion in fiscal year 2025.
The company has expanded its global footprint substantially, particularly in emerging markets; it is now in more than 200 countries and territories. Apple operates over 500 retail stores and has more than doubled the number of countries in which its customers can visit an Apple Store.
During Cook’s tenure, Apple has grown by more than 100 000 team members and increased its active installed base to more than 2,5-billion devices.
Ternus joined Apple’s product design team in 2001 and became a vice-president of hardware Engineering in 2013. He joined the executive team in 2021 as senior vice-president of hardware engineering.
Throughout his tenure at Apple, Ternus has overseen hardware engineering work on a variety of products across every category. He was instrumental in the introduction of multiple new product lines, including iPad and AirPods, as well as many generations of products across iPhone, Mac, and Apple Watch.