Tim Cook will step down as chief executive of Apple Inc. later this year, closing a 15-year tenure that reshaped the world’s most valuable technology company.
The company announced that Cook will transition to executive chairman on Sept. 1, 2026. He will be succeeded by longtime executive John Ternus, currently senior vice president of hardware engineering.
Cook, who became CEO in 2011 after Steve Jobs resigned, led Apple through a period of massive growth and global expansion.
“It has been the greatest privilege of my life to be the CEO of Apple,” Cook said in a statement. “I love Apple with all of my being.”
A Carefully Planned Transition
Apple described the leadership change as the result of long-term succession planning approved by its board.
Cook will remain in his role through the summer, working closely with Ternus to ensure a smooth transition.
According to reports, Cook told employees he waited for three conditions before stepping aside: strong business performance, a solid product pipeline and readiness of his successor.
Ternus, a veteran engineer who joined Apple in 2001, has played a central role in major hardware initiatives. Those include Apple’s transition to in-house silicon chips and several flagship products.
Cook praised his successor, saying, “He is without question the right person to lead Apple into the future.”
Legacy and Challenges Ahead
During Cook’s tenure, Apple grew from a company valued at roughly $350 billion to one approaching $4 trillion. Annual revenue more than tripled, fueled by the iPhone and expanding services.
Cook also emphasized privacy, environmental goals and global supply chain stability. Analysts credit him with turning Apple into a highly efficient and profitable operation.
Still, the company faces new challenges as it enters a post-Cook era. Industry observers point to increased competition in artificial intelligence and shifting consumer expectations.
Ternus inherits a company at its peak but under pressure to innovate in emerging technologies. Some analysts say Apple must accelerate its AI strategy to maintain momentum.
Cook’s move to executive chairman keeps him involved in corporate strategy and global policy discussions.