Apple Inc. announced on April 20, 2026, that Chief Executive Officer Tim Cook will transition from his current role to become Executive Chairman of the Board, effective September 1, 2026. The Board of Directors has appointed John Ternus, currently Apple’s Senior Vice President of Hardware Engineering, to succeed Cook as CEO on the same date. This leadership change marks the first time the company has appointed a new chief executive since Cook took the helm from co-founder Steve Jobs in August 2011.
During his fifteen-year tenure as CEO, Cook oversaw a period of significant financial expansion. Under his leadership, Apple’s annual revenue grew from 108 billion dollars in fiscal year 2011 to 383 billion dollars in fiscal year 2023, with the company reaching a market valuation exceeding 3 trillion dollars. Cook also directed the company’s diversification into services, including Apple Music, iCloud, and Apple TV+, and oversaw the launch of new product categories such as the Apple Watch, AirPods, and the Vision Pro spatial computing headset. In his new role as Executive Chairman, Cook is expected to continue advising on long-term strategy and corporate governance.
John Ternus, who joined Apple’s product design team in 2001, has been a member of the executive team since 2021. As Senior Vice President of Hardware Engineering, Ternus has been responsible for the engineering of the iPhone, iPad, Mac, and AirPods lines. He played a central role in the company’s transition to Apple Silicon, the proprietary chip architecture that replaced Intel processors across the Mac lineup. Arthur Levinson, Chairman of Apple’s Board of Directors, stated that the board’s succession planning process had been thorough and that Ternus possesses the deep technical expertise and leadership qualities necessary to lead the company.
In a statement released by the company, Cook praised Ternus’s contributions to Apple’s most iconic products. Cook noted that Ternus has been an integral part of the leadership team for years and has demonstrated a commitment to the company’s values and innovation pipeline. Ternus stated that he is honored to take on the role and intends to maintain the company’s focus on integrated hardware, software, and services.
The transition comes as Apple continues to navigate global supply chain complexities and regulatory scrutiny in multiple jurisdictions. The company recently reported its first-quarter 2026 financial results, which included 119.6 billion dollars in revenue. The board confirmed that the transition period beginning in September will involve a structured handover of responsibilities to ensure continuity in operations and product development cycles.