Apple Names Ternus to Succeed Cook as CEO in 2026

Apple announced on Monday that Senior Vice President of Hardware Engineering John Ternus will succeed Tim Cook as chief executive officer, effective September 1, 2026. Cook, who has led the company since 2011, will transition to the role of executive chairman after remaining in his current position through the summer to ensure a smooth handover.

The move, approved unanimously by Apple's board of directors, stems from a long-term succession planning process aimed at maintaining continuity at the technology giant, which holds a market capitalization exceeding $3 trillion. Cook, 63, joined Apple in 1998 as senior vice president for worldwide operations and became CEO following the death of co-founder Steve Jobs. Under his leadership, the company introduced new product categories such as the Apple Watch, AirPods, and Apple Vision Pro, while expanding services like iCloud, Apple Pay, and Apple Music. Apple's revenue grew from $108 billion in fiscal 2011 to more than $416 billion in fiscal 2025, with its global presence expanding to over 200 countries and territories. The active installed base of devices reached 2.5 billion, and the services segment became a business generating over...