CUPERTINO: Apple said Tim Cook will become executive chairman of its board of directors and John Ternus will become chief executive officer on September 1, 2026, in a leadership transition the company said followed a long-term succession planning process approved unanimously by the board. Cook will remain CEO through the summer to work with Ternus on the handover, while Ternus will also join Apple’s board when he takes over as chief executive.
Cook, who joined Apple in 1998 and became chief executive in 2011, hands over the role after a tenure in which the company said its market value rose from about $350 billion to $4 trillion and annual revenue increased from $108 billion in fiscal 2011 to more than $416 billion in fiscal 2025. Apple also said its active installed base grew to more than 2.5 billion devices and its business expanded to more than 200 countries and territories.
Ternus, 50, joined Apple’s product design team in 2001, became a vice president of Hardware Engineering in 2013 and joined the executive team in 2021 as senior vice president of Hardware Engineering. Apple said he has overseen hardware engineering work across iPhone, iPad, Mac, Apple Watch and AirPods, while the company’s filing said he previously worked at Virtual Research Systems and holds a mechanical engineering degree from the University of Pennsylvania.
Apple governance changes take effect in September
Arthur Levinson, Apple’s non-executive chairman for the past 15 years, will become lead independent director on September 1, the same day Ternus joins the board. In a filing with the U.S. Securities and Exchange Commission, Apple said its board appointed Ternus chief executive and board member on April 17, with both changes effective on the September transition date. The filing also said Apple and Ternus will enter into the company’s standard indemnification agreement for directors and executive officers.
The change marks the end of nearly 15 years with Cook as Apple’s chief executive, a period in which the company expanded its services business to more than $100 billion, according to Apple, and pushed further into wearables, payments, cloud services and custom silicon. Apple also said that under Cook it reduced its carbon footprint by more than 60% below 2015 levels during a period in which revenue nearly doubled, while broadening its retail and international footprint.
Ternus takes over after years leading hardware
Apple said Ternus helped lead work on several major product categories and drove efforts around durability, materials and repairability, including wider use of recycled materials and manufacturing changes across multiple product lines. The company credited him with contributions to iPad and AirPods and many generations of iPhone, Mac and Apple Watch products. Apple also said his work on Mac helped the category reach its strongest global popularity in decades, reinforcing his standing inside the company ahead of the succession.
Cook said in Apple’s announcement that serving as chief executive had been the greatest privilege of his life and described Ternus as the right person to lead the company, while Ternus said he was grateful for the opportunity after spending almost his entire career at Apple. Apple said Cook will assist with certain aspects of the company in his new role, including engagement with policymakers around the world, after remaining chief executive through the summer to help complete the transition. – By Content Syndication Services.
