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Apple CEO Tim Cook Stepping Down, John Ternus Taking Over
The board approved a long-planned succession as Cook shifts to policy-focused duties and Ternus takes over amid Apple’s push to catch up in artificial intelligence.
- On Monday, Apple announced that John Ternus, senior vice president of Hardware Engineering, will become chief executive officer effective September 1, 2026, while Tim Cook transitions to executive chairman.
- Under Cook, who took the role in 2011, Apple's market capitalization grew from approximately $350 billion to $4 trillion, representing a more than 1,000% increase, with yearly revenue reaching more than $416 billion in fiscal year 2025.
- Ternus, who joined Apple's product design team in 2001, has overseen hardware engineering across multiple product lines including iPhone, Mac, and Apple Watch throughout his tenure.
- Cook will remain CEO through summer to work closely with Ternus on the transition, while Arthur Levinson, Apple's non-executive chairman for the past 15 years, becomes lead independent director on September 1, 2026.
- Apple shares fell over 1% on Monday following the announcement, as Ternus joins the Board of Directors on September 1, 2026 amid the risks and uncertainties inherent in executive succession planning.
425 Articles
425 Articles
BN Daybreak - 21 Apr 2026: Apple’s new CEO; Trump’s Iran ultimatum; Amazon’s AI expansion; Deepfake scam
In today's BizNews Daybreak episode, Apple names John Ternus as CEO while Tim Cook moves to Executive Chairman. Political tensions rise as President Trump threatens to end the Iran ceasefire, impacting crude oil prices and global markets. Meanwhile, Jeff Bezos secures billions for "Project Prometheus" and Amazon ramps up its Anthropic investment. Plus, we expose a sophisticated South African AI scam and marvel at autonomous robots shattering hum…
Tim Cook, Apple CEO of 2011, will be replaced by John Ternus, the head of the hardware engineering department, at the head of the company. In his mandate, he led Apple to become one of the most valuable in the world, becoming in 2018 the first public company valued at $1 trillion. Article Tim Cook leaves Apple CEO after 15 years. Whoever will replace him first appears on Romania TV.
Tim Cook turned Apple into a money machine after the death of co-founder Steve Jobs in 2011. His successor will now have to master, among other things, upheavals through artificial intelligence.
Jyllands-Posten
avisendanmark.dkApple's vice president of technology manufacturer John Ternus is being promoted to become CEO, succeeding Tim Cook. Apple announced this in a statement, writes MarketWire. According to the media, Tim Cook is taking over...
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