Apple announced that CEO Tim Cook will step down on September 1 after leading the company since 2011. He will be succeeded by John Ternus, Apple’s Senior Vice President of Hardware Engineering. Cook will remain involved with the company as chairman.
Following the announcement, Apple shares moved slightly lower in after-hours trading, declining less than 1%.
Cook described serving as Apple’s CEO as the greatest privilege of his life. He also praised Ternus as a strong leader with engineering expertise, innovative thinking, and the integrity needed to guide the company into its next chapter.
John Ternus joined Apple in 2001 and has built a long career inside the company. He currently oversees hardware engineering and has played key roles across products such as the iPhone, iPad, AirPods, and Mac. He has also been involved in Apple’s transition toward using in-house silicon chips across its devices.
Ternus has become more visible in recent years through appearances at major Apple product launches and events. Known for his attention to detail, he has often been described as someone who reflects Apple’s design-driven culture.
Cook leaves behind a transformative legacy. During his leadership, Apple introduced major product categories including Apple Watch and AirPods, expanded its services business into a revenue segment worth over $100 billion annually, and helped push Apple’s market value to around $4 trillion.
However, the company also faces challenges moving forward. Investors continue to watch for Apple’s next breakthrough product after the iPhone era, while competition in artificial intelligence remains intense.
As the new CEO, Ternus will inherit one of the world’s most valuable companies and the responsibility of leading Apple through its next stage of innovation and growth.
