Apple has announced a major leadership transition, with Tim Cook set to become Executive Chairman of the board and John Ternus taking over as Chief Executive Officer, effective September 1, 2026.

According to an Apple official press release, the move is part of a long-term succession plan approved unanimously by the company’s board of directors. Cook will continue as CEO through the summer, working closely with Ternus to ensure a smooth transition before stepping into his new role, where he will also engage with policymakers globally.

Cook, who has led Apple since 2011, described his tenure as the greatest privilege of his life, expressing deep gratitude for the opportunity to lead the company and work alongside its teams. He praised Ternus as a visionary leader with strong engineering instincts and integrity, adding that he is confident in his ability to guide Apple into its next phase.

Ternus, currently Senior Vice President of Hardware Engineering, said he is honoured to take on the role after spending nearly his entire career at Apple. Having worked under Steve Jobs and alongside Cook, he noted that his journey has been shaped by the company’s mission to create products that redefine how people interact with technology.

As part of the transition, Arthur Levinson will move from his role as non-executive chairman to lead independent director, while Ternus will also join Apple’s board.

Cook’s leadership has been marked by significant growth and expansion. During his tenure, Apple’s market capitalisation surged from around $350 billion to nearly $4 trillion, while annual revenue rose sharply. The company also expanded its global footprint to over 200 countries and territories and built an installed base of more than 2.5 billion devices.

Under his watch, Apple introduced new product categories such as Apple Watch, AirPods, and Apple Vision Pro, while also growing its services business into a $100 billion segment. Cook also played a key role in the transition to Apple-designed silicon, enhancing performance and efficiency across devices.

Ternus, who joined Apple in 2001, has been instrumental in shaping many of the company’s flagship products across iPhone, Mac, iPad, and wearables. He has led advancements in hardware engineering, materials innovation, and product durability, contributing to Apple’s continued focus on performance, sustainability, and design.

With this transition, Apple is positioning itself for continuity while preparing for its next phase of innovation, combining Cook’s strategic oversight with Ternus’s deep technical expertise and product leadership.