Cupertino (California)/IBNS-CMEDIA: A major leadership overhaul is underway at Apple, with Tim Cook stepping down as Chief Executive Officer (CEO) of the tech giant.
Cook will be replaced by John Ternus, currently Senior Vice President of Hardware Engineering at Apple.
Ternus’s appointment will take effect on September 1, 2026.
Tim Cook to Become Executive Chairman
In his new role, Tim Cook will serve as Executive Chairman of Apple’s Board of Directors.
Cook will continue as CEO through the summer, working closely with Ternus to ensure a smooth leadership transition.
As executive chairman, Cook will assist in selected areas of the company, including engagement with policymakers globally.
Cook Reflects on His Tenure
“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,” said Cook.
“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.”
Praising his successor, Cook added:
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and 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.”
John Ternus on His Appointment
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” said Ternus.
“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 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 humbled to step into this role. I promise to lead with the values and vision that have defined this special place for half a century.”
Tim Cook’s Legacy at Apple
Tim Cook joined Apple in 1998 and became CEO in 2011. During his tenure, Apple introduced major product categories including the Apple Watch, AirPods, and Apple Vision Pro, along with services such as Apple Pay, Apple Music, Apple TV, and iCloud.
He also expanded existing product lines significantly.
Apple’s Growth Under Cook
Under Cook’s leadership, Apple’s market capitalization grew from approximately $350 billion to $4 trillion, marking a rise of over 1,000%.
Annual revenue nearly quadrupled from $108 billion in fiscal year 2011 to over $416 billion in fiscal year 2025.
The company expanded its global footprint to more than 200 countries and territories, operates over 500 retail stores, and has more than doubled the number of countries with Apple Store access.
Apple’s workforce has grown by over 100,000 employees, and its active installed base has reached more than 2.5 billion devices.
