Apple will undergo a major leadership change later this year, with Tim Cook stepping down as chief executive and handing over to John Ternus.
The transition will take effect on September 1, 2026, the company said Monday.
Cook, who has led Apple since 2011, will become executive chairman of the board.
The company said the decision followed a long-term succession plan approved unanimously by directors. Cook will remain CEO through the summer to oversee the handover.
Succession plan takes shape
Cook framed the move as a planned transition after more than a decade at the helm.
“It has been the greatest privilege of my life to be the CEO of Apple,” he said. “I love Apple with all of my being.”
He pointed to the company’s workforce as central to its growth.
“I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people,” Cook added.
Cook also signaled confidence in his successor.
“John Ternus has the mind of an engineer, the soul of an innovator,” he said. “He is without question the right person to lead Apple into the future.”
Ternus, who currently leads hardware engineering, acknowledged the transition.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” he said.
“I am humbled to step into this role.”
He also highlighted his long tenure.
“I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor,” Ternus said.
Boardroom roles reshuffled
The leadership change will also alter Apple’s board structure. Arthur Levinson, who has served as chairman for 15 years, will become lead independent director. Ternus will join the board when he becomes CEO.
Levinson credited Cook with reshaping Apple’s scale.
“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company,” he said.
He also backed the incoming chief executive.
“We believe John is the best possible leader to succeed Tim,” Levinson added.
Cook acknowledged Levinson’s role.
“I have always found his advice to be invaluable,” Cook said. “I appreciate his thoughtfulness and his unwavering dedication to the company.”
Focus shifts to engineering
Cook’s tenure saw Apple expand beyond its core hardware business.
The company introduced products such as Apple Watch, AirTags, and AirPods. It also built a services division generating over $100 billion annually.
Apple’s market value rose from about $350 billion in 2011 to roughly $4 trillion. Revenue also climbed sharply during that period.
Ternus brings a strong engineering background to the CEO role.
He joined Apple in 2001 and has led hardware development across key products, including iPhone, Mac, and iPad.
In recent years, he has overseen updates to Apple’s device lineup and supported the shift to in-house silicon.
His teams also focused on durability, materials, and energy efficiency.
The transition places a longtime engineering executive at the top of one of the world’s largest technology companies.
It signals a continued focus on product development as Apple enters its next phase.