Apple has announced that Tim Cook will step down as CEO of the company, and John Ternes, Apple’s current senior VP of hardware engineering, will take over as the next Apple CEO, effective September 1, 2026, as well as join the board of directors.
Cook will remain as CEO until the summer as he will work closely with Ternus to ensure a smooth transition. After that, Cook will serve as executive chairman of Apple’s board of directors. In this role, Cook will assist with certain aspects of the company, including connecting with policymakers around the world.
Tim Cook joined Apple in 1998 and became CEO in 2011, overseeing the introduction of several products and services, including the Apple Watch, AirPods, Vision Pro, and iCloud.
Under Cook’s leadership, Apple’s market capitalization grew from approximately $350 billion to $4 trillion, while annual revenue grew from $108 billion in fiscal year 2011 to $416 billion in fiscal year 2025.
During Cook’s tenure, Apple Services became a more than $100 billion business, and the company now has a presence in more than 200 countries and territories and operates more than 500 retail stores. Apple also transitioned to Apple-designed silicon under Cook’s leadership.
John Ternes (left) with Tim Cook (right)
Speaking of John Ternes, the current SVP of Hardware Engineering joined Apple’s product design team in 2001 and became Vice President of Hardware Engineering in 2013. In 2021, Ternus joined the executive team as SVP of Hardware Engineering.
In a press release, Apple said Ternus had played a key role in introducing several new product lines, including the iPad and AirPods, as well as products across multiple generations of the iPhone, Mac and Apple Watch.
“Becoming CEO of Apple and being trusted to lead such an extraordinary company has been the greatest privilege of my life. I love Apple with all my heart, and I’m so grateful to have 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.Tim Cook said.
“John Ternes has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and respect. He is a visionary whose contributions to Apple over 25 years are already too many to count, and there is no doubt that he is the right person to lead Apple into the future. I couldn’t be more confident in his abilities and his character, and I look forward to this transition and working closely with him in my new role as Executive Chairman.”Cook further said.
In addition to announcing Cook and Ternes’ new roles, Apple announced that Arthur Levinson, who has been Apple’s non-executive chairman for the past 15 years, will become its lead independent director on September 1, 2026.
Additionally, Apple announced Johnny Sruzzi, who most recently served as Apple’s senior vice president of Hardware Technologies, will become its chief hardware officer immediately. In this role, Sruzzi will lead Apple’s hardware engineering, which was most recently overseen by Turnus.
