Apple has announced that Tim Cook will step down as CEO later this year and become the company’s Chairman. John Ternus, the SVP of Hardware Engineering, is scheduled to assume the role of CEO starting September 1, 2026.
Cook will remain CEO through the summer as he works closely with Ternus to ensure a smooth transition.
In a press release Cook told investors, “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. 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.”
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. 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.”
Ternus started at Apple’s product design team in 2001 and was promoted to vice president of Hardware Engineering in 2013. He joined the executive team in 2021.
Ternus commented, “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.”
Tim Cook joined Apple in 1998 and became CEO in 2011. Since then, he has overseen the launch of many products and services, including new categories such as Apple Watch, AirPods, and Apple Vision Pro, as well as services like iCloud, Apple Pay, Apple TV, and Apple Music.
As executive chairman, Cook will assist with engaging with policymakers around the world.
Apple shares rose less than 1% following the announcement.
By CEO NA Editorial Staff
