Tim Cook will transition to Apple Executive Chairman while John Ternus becomes CEO on September 1, 2026. Cook, who led Apple from 2011 to 2026, oversaw a 1,000% stock increase and expanded global operations to 200 countries. Ternus, Apple’s Hardware Engineering head since 2013, spearheaded innovations like the iPhone 17 Pro and AirPods’ medical-grade features.

The board unanimously endorsed the shift, citing Ternus’s technical expertise and leadership in sustaining Apple’s product-driven growth. Apple’s market cap hit $4 trillion under Cook’s tenure, with Services revenue surpassing $100 billion. Ternus joins the board, while Arthur Levinson becomes lead independent director. Cook praised Ternus’s “visionary” approach, ensuring continuity in Apple’s mission to prioritize innovation and user-centric design.