Apple said on Tuesday that Chief Executive Officer Tim Cook will transition to executive chairman, with senior vice president of Hardware Engineering John Ternus set to become the company’s next CEO effective September 1, 2026.
The leadership change, unanimously approved by Apple’s board, follows what the company described as a long-term succession planning process.
Cook, who has led Apple since 2011, will remain CEO through the summer to support a smooth handover. In his new role as executive chairman, he will continue to contribute to the company, including engaging with policymakers globally.
“It has been the greatest privilege of my life to be the CEO of Apple,” Cook said, adding that Ternus is “without question the right person to lead Apple into the future.”
Ternus, a 25-year Apple veteran who joined the executive team in 2021, said he was “profoundly grateful” for the opportunity and pledged to carry forward the company’s mission and values.
The reshuffle will also see long-serving board chairman Arthur Levinson transition to lead independent director, while Ternus will join Apple’s board on the same date.
Cook’s tenure has been marked by significant growth and expansion. Under his leadership, Apple’s market value rose from about $350 billion in 2011 to roughly $4 trillion, while annual revenue nearly quadrupled to more than $416 billion in fiscal 2025.
He oversaw the launch of major product categories such as the Apple Watch, AirPods, and Apple Vision Pro, and led the expansion of Apple’s services business into a segment generating over $100 billion annually.
Cook also spearheaded Apple’s transition to in-house silicon, strengthening the company’s control over its core technologies and improving performance across its product ecosystem.
Ternus, who joined Apple’s product design team in 2001, has played a central role in hardware development across the company’s lineup, including iPhone, Mac, iPad, and Apple Watch.
He has been instrumental in advancing Apple’s Mac portfolio and led engineering efforts behind recent product launches, including the iPhone 17 series and new Mac models. He has also driven innovations in materials, durability, and sustainability, including the use of recycled aluminum and 3D-printed titanium components.
Analysts view the appointment as a continuation of Apple’s tradition of promoting deeply embedded leaders with strong product backgrounds, signaling stability in its strategic direction.
Levinson praised Cook’s leadership, saying it had “transformed Apple into the world’s best company,” and expressed confidence that Ternus would lead the company into its next phase of growth.