Apple transitions leadership from Tim Cook to John Ternus after 15-year run

Tim Cook is stepping down as Apple’s CEO. The man who turned a $350 billion company into a $4 trillion behemoth is handing the keys to John Ternus, Apple’s senior vice president of hardware engineering, effective September 1, 2026.

Cook isn’t leaving entirely. He’s moving into the role of executive chairman, which means he’ll still be around for policy decisions and global engagement but won’t be running day-to-day operations. Arthur Levinson, the current non-executive chairman, will shift to lead independent director.

The new guy has been there all along

John Ternus isn’t some outside hire parachuting into Cupertino. He’s been at Apple since 2001, which means he predates the iPhone, the iPad, the Apple Watch, and basically everything that made Apple the company it is today.

During his 25 years at the company, Ternus has overseen engineering for nearly every significant hardware product Apple makes. iPhone, iPad, Mac: his fingerprints are on all of them.

Ternus will also join Apple’s board of directors as part of the transition, giving him a seat at both the operational and governance tables.

Cook’s legacy in numbers

When Tim Cook took over from Steve Jobs in August 2011, Apple’s annual profits surpassed $110 billion under his leadership, more than quadrupling from where they stood when he took the helm. The company’s market capitalization ballooned to $4 trillion, making it the most valuable publicly traded company on the planet for most of his tenure.

The timing of this announcement is no accident. Apple celebrates its 50th anniversary this year, and there’s a major product event scheduled for September 9, just days after the CEO transition takes effect. That event is expected to showcase Apple’s first foldable iPhone.

What Ternus inherits

Apple has been conspicuously behind in artificial intelligence. While competitors like Google, Microsoft, and Meta have been racing to integrate generative AI into their products, Apple’s efforts have been more measured. Ternus is expected to make AI integration a central focus of his tenure.

New hardware categories are also on the roadmap. Smart glasses are reportedly among the product areas Apple is exploring, a space where Meta has already gained traction with its Ray-Ban partnership.

Apple’s COO and CFO are both expected to take on expanded roles under the new leadership structure.