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Apple announced Mopnday that Tim Cook will step down as chief executive officer on September 1, 2026, after nearly 15 years leading the company, transitioning to the role of executive chairman. John Ternus, currently senior vice president of Hardware Engineering, will succeed him as CEO.
The leadership change, approved unanimously by Apple's board of directors, follows what the company described as a long-term succession planning process. Arthur Levinson, who has served as Apple's non-executive chairman for 15 years, will move to the role of lead independent director on the same date. Ternus will also join the board of directors effective September 1.
Cook, who joined Apple in 1998 and became CEO in 2011, will remain in the role through the summer to ensure a smooth handover. In his new capacity as executive chairman, he will assist with select company matters, including engaging with policymakers around the world.
Cook took the helm at Apple following the death of co-founder Steve Jobs, inheriting a company already transformed by the iPhone but far from its current scale. Under his leadership, Apple's market capitalization grew from roughly $350 billion to $4 trillion, a rise of more than 1,000 percent, while annual revenue nearly quadrupled, climbing from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025.
During his tenure, Cook oversaw the launch of new product categories, including Apple Watch, AirPods and Apple Vision Pro, and built out a services portfolio spanning iCloud, Apple Pay, Apple TV and Apple Music. Apple's services division has grown to generate more than $100 billion annually, a scale that would place it among the top 40 companies in the United States by revenue. The company now operates in more than 200 countries and territories, with more than 500 retail stores and an active installed base exceeding 2.5 billion devices.
Cook also oversaw Apple's transition to its own custom silicon, reducing dependence on third-party chip suppliers while delivering performance and efficiency gains across its product lineup. On environmental metrics, the company reduced its carbon footprint by more than 60 percent below 2015 levels during a period in which revenue nearly doubled.
"It has been the greatest privilege of my life to be the CEO of Apple," Cook said in the company's statement, describing Ternus as someone with "the mind of an engineer, the soul of an innovator, and the heart to lead with integrity."
Ternus, who joined Apple's product design team in 2001, has spent the past quarter-century overseeing hardware development across virtually every major product line the company makes. He became a vice president of Hardware Engineering in 2013 and joined the executive team in 2021.
Among his contributions, Ternus played a central role in the introduction of iPad and AirPods, and has led hardware engineering work across successive generations of iPhone, Mac and Apple Watch. His team was also responsible for the recently launched MacBook Neo and last autumn's iPhone 17 lineup, which included the iPhone Air and the iPhone 17 Pro and Pro Max. Under his direction, Apple introduced over-the-counter hearing aid functionality into AirPods and pioneered the use of 3-D printed titanium in Apple Watch Ultra 3.
Ternus holds a bachelor's degree in Mechanical Engineering from the University of Pennsylvania and previously worked as a mechanical engineer at Virtual Research Systems before joining Apple.
"I am profoundly grateful for this opportunity to carry Apple's mission forward," Ternus said, adding that he is "humbled to step into this role" and promising to lead with the values that have defined the company "for half a century."
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