Apple announced on April 20, 2026, that CEO Tim Cook will step down on September 1, 2026, after nearly 15 years, with senior vice president of hardware engineering John Ternus, 50, succeeding him. Cook will transition to executive chairman while remaining in the role through the summer for a smooth handover. The change comes amid preparations for AI-driven industry shifts.
Tim Cook, who succeeded Steve Jobs as CEO on August 24, 2011, led Apple to record growth, including launches of Apple Watch, AirPods, Apple Music, Apple TV+, and recent innovations like the iPhone Air (biggest overhaul since 2017) and MacBook Neo. Under Cook, Apple hit a $1 trillion market cap in 2018, $3 trillion in 2022, and $4 trillion last October, with stock rising twenty-fold. Cook said, “I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people...” As executive chairman, he will continue engaging policymakers worldwide.
John Ternus, who joined Apple in 2001 and became senior vice president of hardware engineering in 2021, was key to revitalizing Macs (boosting market share vs. PCs), iPads, AirPods, and other products. He credited mentors Steve Jobs and Tim Cook, saying, “I am profoundly grateful for this opportunity to carry Apple’s mission forward.” Ternus will join the board and now faces challenges like Nvidia's PC push, Meta's AR glasses, and integrating AI into iPhones—following a deal with Alphabet to use Google's Gemini for Siri improvements.
Analysts see the move signaling focus on new hardware like folding phones, glasses, VR, and AI pins, though Ternus's biggest test is building stronger in-house AI, per Bob O’Donnell of TECHnalysis Research and Gil Luria of D.A. Davidson.
Related changes include Johny Srouji moving to chief hardware officer and Arthur Levinson shifting to lead independent director.
