Apple confirmed Tim Cook will step down as chief executive on September 1, 2026, installing long‑time hardware chief John Ternus as the new CEO. Cook will assume the role of executive chairman, keeping a seat on the board while guiding policy outreach.

Cook has steered Apple since 2011, growing its market cap from under $350 million to a $4 trillion valuation. Under his tenure, the company launched the iPhone 4S, Apple Watch, AirPods, Apple Vision Pro, and shifted Macs to Apple silicon. His transition signals continuity while opening a new era of hardware‑centric leadership.

Ternus, a 25‑year veteran, will focus on product design and engineering excellence. He will be succeeded by Johny Srouji, the current hardware chief, as Ternus takes the CEO helm. The board’s unanimous vote underscores confidence in an internal handover, aiming to preserve Apple’s culture while sharpening its competitive edge.

Cook’s new chairman role will let him engage with global policymakers while Ternus steers the next wave of iPhones, Macs, and services. The move reflects Apple’s long‑term strategy to balance visionary leadership with operational continuity. Stakeholders can expect a smooth transition, as the company has already mapped the succession path internally.