John Ternus will become Apple’s next CEO effective on September 1, 2026. This marks a significant leadership transition for one of the world’s most valuable companies.
Tim Cook, who has served as CEO since 2011, will step down from his role and take on the position of executive chairman of Apple’s board of directors. Under Cook’s leadership, Apple’s market capitalization soared from approximately $350 billion to an astounding $4 trillion.
The transition was unanimously approved by Apple’s Board of Directors. Ternus joined Apple in 2001 and has played a crucial role in the company’s hardware engineering division. He became senior vice president of Hardware Engineering in 2021 and is credited with introducing multiple new product lines, including the iPad and AirPods.
As of midday Tuesday, Ternus will also join the board of directors effective September 1. This change comes at a time when Apple operates over 500 retail stores worldwide and boasts a yearly revenue increase from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025.
Tim Cook expressed gratitude for his time at the helm: “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.” Meanwhile, Ternus stated, “I am profoundly grateful for this opportunity to carry Apple’s mission forward.”
Arthur Levinson, chairman of Apple’s board, commended Cook’s leadership: “Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company.” During Cook’s tenure, Apple expanded its workforce by over 100,000 team members and grew its active installed base to approximately 2.5 billion devices.
Details remain unconfirmed regarding how Ternus plans to steer the company forward. Further developments are expected as the transition date approaches.