Apple announced that Tim Cook will step down as CEO on September 1, 2026, ending his 15-year tenure at the company's helm. John Ternus, Apple's senior vice president of hardware engineering, will succeed him after a transition period.

Cook will become Apple's executive chairman of the board, while Ternus will also join the board. The longtime Apple veteran has worked at the company for over 25 years, contributing to major products including the iPad, AirPods, and multiple generations of iPhones, Macs, and Apple Watches.

Industry analysts note Apple faces significant challenges as it enters this leadership transition, particularly in artificial intelligence where competitors have gained ground. While Cook oversaw Apple's growth from a $350 billion company to a $4 trillion giant, the iPhone's dominance is waning and the company must adapt to an AI-driven future. Ternus, with his hardware engineering background, will need to navigate these strategic pressures as Apple's first CEO with a mechanical engineering degree in decades.