Apple announced that Tim Cook will transition to executive chairman of its board of directors, while John Ternus will become the company’s next chief executive officer, effective September 1, 2026.
The leadership transition follows a long-term succession planning process approved unanimously by Apple’s board. Cook will remain CEO through the summer, working closely with Ternus to ensure a smooth handoff before assuming his new role, which will include continued engagement with policymakers globally.
As part of the transition, Arthur Levinson will move from non-executive chairman to lead independent director, and Ternus will join Apple’s board of directors.
Cook’s tenure as CEO, which began in 2011, has been marked by significant growth and expansion. Under his leadership, Apple’s market capitalization increased from approximately $350 billion to $4 trillion, while annual revenue rose from $108 billion in fiscal 2011 to more than $416 billion in fiscal 2025. The company also expanded its global footprint to more than 200 countries and territories, grew its retail presence to over 500 stores, and increased its installed base to more than 2.5 billion devices.
During this period, Apple introduced new product categories including Apple Watch, AirPods, and Apple Vision Pro, while significantly expanding its services business into a segment generating more than $100 billion annually. Cook also led the company’s transition to Apple-designed silicon and advanced initiatives around sustainability, privacy, and accessibility.
Ternus, who joined Apple in 2001, has played a central role in the company’s hardware engineering efforts. He became vice president of Hardware Engineering in 2013 and was elevated to senior vice president in 2021. Over his career at Apple, he has overseen development across major product lines, including iPhone, Mac, iPad, Apple Watch, and AirPods, and has contributed to innovations in materials, durability, and product design.
He has also led advancements in Mac performance and accessibility, as well as engineering breakthroughs across Apple’s latest iPhone and wearable devices. His leadership has helped drive improvements in sustainability, including the use of recycled materials and enhanced product longevity.
KEY QUOTES:
“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. 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. John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with 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.”
“I want to thank Art for the incredible work he has done leading the board of directors for the past 15 years. I have always found his advice to be invaluable and I appreciate his thoughtfulness and his unwavering dedication to the company. I am grateful he will serve as our lead independent director, and I look forward to working with him in my new role.”
Tim Cook, Chief Executive Officer, Apple
“I am profoundly grateful for this opportunity to carry Apple’s mission forward. 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 so much of 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 so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us. I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
John Ternus, Incoming Chief Executive Officer, Apple
“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company. He’s introduced groundbreaking products and services time and again, and his integrity and values are infused into everything Apple does. On behalf of the entire board of directors, we are incredibly grateful for his countless contributions to Apple and the world, and we are thrilled he will now be executive chairman. We believe John is the best possible leader to succeed Tim and as he transitions to CEO we know his love of Apple, his leadership, deep technical knowledge, and relentless focus on creating great products will help lead Apple to an extraordinary future.”
Arthur Levinson, Board Member, Apple
