Tim Cook to retire as Apple CEO in September 2026, with John Ternus stepping in after a historic era of growth with big shoes to fill.
We have been hearing for the past few months that Apple is preparing for CEO Tim Cook's retirement. Rumors had noted that the next CEO would be John Ternus, Senior VP of Hardware Engineering, but that the transition may not happen in 2026. Well, the rumors were partially true, as Cook is indeed stepping down from his role, and it is happening later this year after all.
Apple has announced that Tim Cook will be retiring as Apple CEO on September 1, 2026. Until that time, he will work with Ternus to ensure a smooth transition. After that date passes, Cook will take on the role of executive chairman, the current non-executive chairman Arthur Levinson will become lead independent director, and Ternus will also join the board of directors. All these changes have been unanimously approved by the current board.
Cook is quoted as saying:
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.
John Ternus certainly has big shoes to fill as the successor to Cook. As a reminder, Tim Cook became Apple CEO back in 2011 following Steve Jobs' rapid decline in health. Cook had already been at Apple since 1998, but after becoming CEO, he took the company from a market cap of $350 billion to $4 trillion. Its revenue for the fiscal year of 2025 was $416 billion, which is almost 4x the $108 billion reported in 2011. This is spearheaded by the launch of new devices and categories such as Apple Watch, AirPods, iCloud, Apple Pay, Apple TV, and Apple Music, along with continued innovation with the iPhone.
Meanwhile, Ternus is also an Apple veteran who joined the firm in 2001. He steadily rose to the ranks of VP of Hardware Engineering in 2013 and then SVP of the same division in 2021, at which point he also became a member of the executive team. He is also credited as being "instrumental" in the launch of several generations of iPhone, iPad, AirPods, Mac, Apple Watch, and more. It will be interesting to see how quickly he settles into his new role as Apple's head honcho.
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