Tim Cook has announced that he will be stepping down as Apple CEO on September 1. Senior vice president of hardware engineering John Ternus, long seen as the company's leading succession candidate, will take over following a summer transition period.
Cook will become executive chairman of the board, where he will engage with policymakers around the world and support the company in other areas. Ternus will also join the board of directors, while non-executive chairman Arthur Levinson becomes lead independent director.
The transition will span the June Worldwide Developers Conference, where Apple is expected to unveil iOS 27. Ternus is likely to assume full control just before Apple introduces new iPhone models in September, including the iPhone 18 and possibly a foldable iPhone Ultra.
Cook's announcement marks the end of the longest tenure in Apple's history. The 65-year-old took over in August 2011, two months before co-founder and former CEO Steve Jobs passed away.
While Jobs oversaw the introduction of products such as the iPod, iPhone, iPad, MacBook Air, and MacBook Pro, Cook's tenure marked a shift toward wearables and a transformation of Apple's hardware strategy. He helped bring the Apple Watch and AirPods into the mainstream, led the company into streaming, and guided Apple's transition to in-house Arm-based chips.
Apple's market valuation grew from roughly $350 billion to $4 trillion during Cook's 14 years as CEO. He is stepping down as the company moves into the budget laptop segment, a key stronghold of rival Microsoft, with the $599 MacBook Neo.
Ternus's ascension comes as little surprise. Reports about Apple's succession plans have circulated for the past year, consistently naming the hardware chief as the leading candidate.
Ternus joined Apple in 2001 and has spent more than two decades at the company. Since becoming senior VP of hardware engineering in 2021, he has played a central role in launching several major products. His background in hardware and relative youth, being the same age that Cook was upon his promotion, suggest he could lead the Cupertino giant for the next decade, much like Jobs and Cook before him.
In an open letter, Tim Cook thanked Apple users for their support and expressed confidence in Ternus's leadership.