Tim Cook becomes Apple executive chairman and John Ternus is new CEO

In Short:
– Tim Cook will become executive chairman on September 1, 2026, with John Ternus as CEO.
– Cook and Ternus will ensure a smooth leadership transition during the summer.

Apple announced Tim Cook will transition to executive chairman of its board, effective September 1, 2026, while John Ternus will become CEO.The Board of Directors unanimously approved this leadership change, following a long-term succession planning process.

Leadership transition

Cook will work closely with Ternus during the summer to ensure a smooth transition.

As executive chairman, Cook will engage with policymakers globally.

Cook expressed gratitude for the opportunity to lead Apple and highlighted Ternus’s qualifications as a future CEO.

Ternus has been with Apple for nearly 25 years and thanked Cook for his mentorship.

JUST IN: Apple CEO Tim Cook to step down as CEO, will be replaced by John Ternus.

Ternus, senior vice president of Hardware Engineering, will become Apple’s CEO effective on September 1, 2026, according to Apple.

“It has been the greatest privilege of my life to be the CEO of… pic.twitter.com/gstHGKRppy

— Collin Rugg (@CollinRugg) April 20, 2026

Arthur Levinson will become lead independent director after serving as non-executive chairman for 15 years.

Under Cook’s leadership since 2011, Apple expanded its market capitalisation significantly and introduced numerous products.

The company now operates over 500 retail stores globally and has a large installed base of devices.

Apple Services has grown under Cook, exceeding $100 billion in revenue.

He has also focused on reducing the company’s carbon footprint and prioritising privacy.

Ternus’s tenure at Apple includes significant contributions to various product lines, such as the iPhone and Mac.

He has overseen advancements in product durability and sustainable materials.

Prior to Apple, Ternus was a mechanical engineer, holding a Mechanical Engineering degree from the University of Pennsylvania.

The leadership change marks a new chapter for Apple as it continues to innovate and expand.

Apple remains committed to enhancing user experience through engineering excellence and sustainability initiatives.

Apple stock declined less than 1% in after-market trading following the news.