Tim Cook will step down as Apple CEO on September 1, 2026. He will transition to Executive Chairman of the Board after nearly 15 years leading the company. Cook oversaw Apple’s growth into the first company to reach a $1 trillion market capitalization.
Apple appointed John Ternus, the current Senior Vice President of Hardware Engineering, as the incoming CEO. Ternus previously led the development of the iPhone, iPad, and AirPods. He also managed the company's transition to Apple Silicon for the Mac.
The planned transition aims to ensure stability as Apple expands into artificial intelligence and new product categories. Investors are monitoring the leadership change for potential shifts in corporate strategy.