Tim Cook to step down as Apple CEO this year, To be replaced by John Ternus

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Apple has announced that Tim Cook will step down as the company’s CEO. John Ternus, who is currently working as the company’s current Senior VP of Hardware Engineering, will take office as the next Apple CEO on September 1, 2026. He will also join the board of directors.

That means Tim Cook will continue as CEO through the summer as he works closely with Ternus on a smooth transition. Then he will serve as the Executive Chairman of Apple’s board of directors. In this role, Cook will assist with certain aspects of the company, including engaging with policymakers worldwide.

During his working period from 1998 to 2026. He worked as the CEO of the company for 15 years after he was appointed as the CEO of Apple in 2011. Tim Cook joined Apple in 1998.

During his working period, several products and services, including Apple Watch, AirPods, Vision Pro, and iCloud were introduced. Cook has helped the company’s market capitalization grew from about $350 billion to $4 trillion, representing a more than 1,000% increase. Meanwhile, yearly revenue increased by a quadruple, from $108 billion in fiscal year 2011 to $416 billion in fiscal year 2025.

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During his tenure, Apple Services became a business of more than $100 billion. He also lead the company in expanding its global footprint substantially, particularly in emerging markets. It is now in more than 200 countries and territories with over 500 retail stores and has more than doubled the number of countries in which its customers can visit an Apple Store.

During his tenure, Apple has grown by more than 100,000 team members and increased its active installed base to more than 2.5 billion devices.

Apple also transitioned to Apple-designed silicon under Cook’s leadership.

Meanwhile, Apple’s soon to be CEO John Ternus, who is the current SVP of Hardware Engineering joined Apple’s product design team in 2001 and became Vice President of Hardware Engineering in 2013. In 2021, Ternus joined the executive team as the SVP of Hardware Engineering.

Also Read: iPhone Fold launch might place Apple among top-three foldable players in 2026

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