- Tim Cook to step down as Apple CEO September 1, 2026.
- Cook will transition to executive chairman of the board.
- John Ternus, hardware chief, will succeed Cook as CEO.
Tim Cook’s Future Plans: Apple has announced that Tim Cook will step down as the company’s chief executive officer, a role he has held since 2011. Effective September 1, 2026, Cook will transition to the position of executive chairman of Apple’s board of directors. John Ternus, currently senior vice president of Hardware Engineering, will take over as the new CEO. The transition was unanimously approved by Apple’s board and follows what the company described as a long-term succession planning process.
Cook will remain in his CEO role through the summer to ensure a smooth handover.
What Will Tim Cook Do As Executive Chairman?
In his new role, Cook will step back from day-to-day operations but will continue to be involved in select areas of the business, particularly engaging with policymakers across the world.
“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,” Cook said.
He also expressed full confidence in his successor, adding: “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour.”
How Did Tim Cook Transform Apple During His Tenure?
Cook joined Apple in 1998 and became CEO in 2011. Under his leadership, Apple’s market capitalisation grew from roughly $350 billion to $4 trillion, a rise of more than 1,000%.
Annual revenue nearly quadrupled, going from $108 billion in fiscal year 2011 to over $416 billion in fiscal year 2025. The company’s active installed base also reached more than 2.5 billion devices.
Cook oversaw the launch of Apple Watch, AirPods, Apple Vision Pro, and grew Apple Services into a business generating over $100 billion annually.
