CUPERTINO, Calif. — Apple Inc. Chief Executive Officer Tim Cook addressed employees at a company-wide meeting on April 21, 2026, following the formal announcement that he will step down from his role on September 1, 2026. Cook, who has led the technology giant since 2011, will transition to Executive Chairman of the Board, with hardware engineering chief John Ternus named as his successor.
During the all-hands meeting held at the Steve Jobs Theater, Cook provided clarity on his future role and the company’s leadership structure. He informed staff that he remains healthy and possesses high energy, stating his intention to serve as Executive Chairman for the long term. In this capacity, Cook will focus on board leadership, succession oversight, and engagement with global policymakers. The transition was unanimously approved by Apple’s Board of Directors following a multi-year succession planning process.
John Ternus, 51, will become Apple’s next CEO at the start of the company’s next fiscal cycle in September. Ternus is a 25-year veteran of the company, having joined in 2001 to work on product design for Mac monitors. He has served as Senior Vice President of Hardware Engineering since 2021, overseeing the development of the iPhone, iPad, Mac, and AirPods. Cook praised Ternus during the meeting, describing him as a visionary with the mind of an engineer and the soul of an innovator.
The leadership change includes several other key executive shifts effective September 1. Johny Srouji, currently the Senior Vice President of Hardware Technologies, will move into the newly created position of Chief Hardware Officer. Tom Marieb, a veteran engineering leader, will succeed Ternus as the head of the hardware engineering division, reporting directly to Srouji. Additionally, Arthur Levinson will step down as non-executive chairman to become the lead independent director, while Ternus will join the Board of Directors.
Cook’s 15-year tenure as CEO has been defined by significant financial expansion. Since August 2011, Apple’s market capitalization has grown from approximately $350 billion to more than $4 trillion. Under his leadership, annual revenue increased from $108 billion to $416 billion in 2025. The company also expanded its ecosystem to include over 2.5 billion active devices and built a Services business that now generates $100 billion in annual revenue.
In his remarks to employees, Ternus expressed optimism regarding the company’s product roadmap and strategic direction. He noted that he would begin transitioning out of his current hardware engineering duties immediately to focus on the handover. Ternus will lead the company through its upcoming product cycle, which is expected to include the launch of new iPhone models and the company’s first foldable devices later this year.