Apple announced that Tim Cook will become Executive Chairman of the Board, and John Ternus, currently Senior Vice President of Hardware Engineering, will become the company’s new CEO starting September 1, 2026. The decision was unanimously approved by the Board of Directors.
Cook has led Apple since 2011. During this time, the company’s market capitalization has grown from $350 billion to $4 trillion, and annual revenue has nearly quadrupled—from $108 billion to $416 billion. Under his leadership, the Apple Watch, AirPods, and Apple Vision Pro were introduced, and the services business has grown to $100 billion per year.
Ternus has been with Apple since 2001. Under his guidance, the company transitioned to its own Apple Silicon processors and launched new generations of iPhone, Mac, and AirPods. In his new role, he will also join the Board of Directors.
