Tim Cook will step down as Apple’s CEO later this year and transition to the role of executive chairman of the board, with longtime hardware executive John Ternus set to become chief executive on September 1, 2026. Cook, who took over from Steve Jobs in 2011, has led Apple for nearly 15 years, during which time he emphasized the expansion of services such as Apple Pay, Apple TV and Apple Music, helping those businesses grow to generate more than $100 billion annually, while also overseeing major product launches including Apple Watch and AirPods. Under his leadership, Apple’s market value increased by roughly $3.6 trillion, reflecting the company’s transformation into one of the world’s most valuable corporations.
In statements about the transition, Cook described leading Apple as “the greatest privilege” of his life and expressed deep gratitude for working with a team of “ingenious, innovative, creative and deeply caring people” dedicated to improving customers’ lives and creating top-tier products and services. He highlighted Ternus as a leader who “has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor.” Ternus, a 25‑year Apple veteran, responded that he is “profoundly grateful” for the opportunity, noting he has spent almost his entire career at Apple, learned under Steve Jobs and been mentored by Cook, and has helped shape products and experiences that changed how people interact with the world and with one another.
Market observers had widely expected Ternus to be Cook’s successor, viewing his selection as consistent with Apple’s identity as a hardware‑driven company rather than one led from the software side. Even so, some analysts argue the timing raises questions, since Apple is in the midst of a major shift in its artificial intelligence strategy, making this leadership change at such a pivotal technological moment both understandable and surprising.
Reference
Cerullo, M. (2026, April 20). Tim Cook to step down as Apple CEO, with John Ternus tapped as successor. CBS News. https://www.cbsnews.com/news/tim-cook-apple-ceo-to-step-down-john-ternus/