Apple CEO Tim Cook will transition to the role of Executive Chairman on September 1, 2026. John Ternus, currently Senior Vice President of Hardware Engineering, will succeed him as Chief Executive Officer.
Cook has led the company since 2011. Apple reached a valuation of nearly $4 trillion during his tenure.
Ternus is a 25-year Apple veteran. He led development for core products including the iPhone, iPad, and AirPods.
The board approved the transition as part of a long-term succession plan. Analysts expect strategic continuity from the engineering-focused leader. Ternus will prioritize the company's expansion into artificial intelligence.