Tim Cook to Become Apple Executive Chairman, John Ternus to Take Over as Apple CEO

Apple will carry out a leadership succession effective September 1, 2026.

• Tim Cook will step down as CEO to become executive chairman, remaining CEO for now as he works through the transition through the summer.
• John Ternus will become Apple's new CEO, and will also join the board of directors on the same date.
• Current non-executive chairman Arthur Levinson will move into the role of lead independent director.

During the transition period, Cook will work alongside Ternus, and in his new role he will support certain responsibilities such as policy engagement. Apple stated that this succession was carried out as part of a long-term succession plan.

Ternus joined Apple in 2001 and has served as senior vice president of Hardware Engineering since 2021. Apple explained that he has led hardware development for major product lines including iPad, AirPods, iPhone, Mac, and Apple Watch.

During Cook's tenure, Apple:

• grew its market capitalization from approximately $350 billion to $4 trillion,
• grew its annual revenue from $108 billion to over $416 billion, and
• expanded its active installed base to more than 2.5 billion devices.

Apple also expanded new products and services such as Apple Watch, AirPods, Apple Vision Pro, Apple Pay, and Apple Music, and cited its transition to its own silicon, enhanced privacy protections, improved accessibility, and reduced carbon footprint as key achievements.