Tim Cook Steps Down as Apple CEO After 15 Years, John Ternus Takes Charge

CUPERTINO, Calif. — Tim Cook's 15-year run as Apple's chief executive officer ended on September 1, 2026, when John Ternus formally took over as CEO. Apple announced the transition on April 20, 2026, and the two executives spent the following months working together before Cook's final day as CEO on August 31.

A New Role for Cook

Cook has not retired from Apple. He has moved into the newly created role of executive chairman of Apple's board, where the company says he will continue to be involved in certain aspects of the business, including engaging with policymakers around the world. Arthur Levinson, Apple's non-executive chairman for the past 15 years, became lead independent director on the same day. In Apple's announcement, Levinson said Cook's leadership "has transformed Apple into the world's best company."

Ternus is not new to Apple. He joined the company's product design team in 2001, became vice president of Hardware Engineering in 2013 overseeing Mac, iPad and later AirPods, took charge of iPhone hardware engineering in 2020, and was promoted to senior vice president of Hardware Engineering in 2021, joining Apple's executive team. In that role he oversaw engineering for the iPhone, Mac, iPad, Apple Watch, AirPods and Apple Vision Pro, and became a regular presenter at Apple product events. Cook described Ternus as having "the mind of an engineer, the soul of an innovator" in the transition announcement.

The Cook Legacy

Cook became Apple's CEO in August 2011, succeeding Steve Jobs, who died two months later. Apple said that under Cook's tenure, the company's market capitalization grew from roughly $350 billion to more than $4 trillion. As of early September 2026, Apple's market value stood at approximately $4.7 trillion, according to market data, a separate and more current figure than the transition-era comparison Apple cited. Market capitalization reflects investor valuation of Apple's shares and is distinct from revenue, which measures actual sales.

Apple's annual revenue rose from about $108 billion in fiscal 2011 to a record $416 billion in fiscal 2025, according to the company's financial filings. Services, which includes the App Store, Apple Music, iCloud and other subscriptions, became a more than $100 billion annual business for the first time in fiscal 2025. Apple's installed base of active devices surpassed 2.5 billion in January 2026. That growth reflects the work of Apple's broader leadership team and employees over the period, not Cook alone.

Cook's tenure included the launch of the Apple Watch in 2015, AirPods in 2016, the multiyear transition of the Mac to Apple's own silicon chips, and the 2024 debut of Apple Vision Pro, the company's first mixed-reality headset.

Challenges Ahead for Ternus

Ternus inherits a highly profitable company but also unresolved challenges. Apple has faced repeated delays to a more capable, AI-driven version of Siri, initially expected in 2024 and still not fully delivered. Analysts and reporting describe Apple as trailing rivals such as OpenAI and Google in large language model capability, despite a licensing arrangement with Google for underlying AI technology. Apple has also been diversifying iPhone assembly toward Vietnam and other manufacturing hubs to reduce reliance on China, though that shift has been gradual and China remains central to its supply chain, an issue complicated by tariff threats from the Trump administration. Ternus takes over just over a week before Apple's September 9 product event, where new iPhone hardware is expected, though specific unannounced products should be treated as reporting rather than confirmed fact until Apple discloses them.

Cook's succession is Apple's first change in chief executive since Jobs handed him the role in 2011, making it the most consequential leadership transition at the company in 15 years. Whether Ternus, an engineer by training and background rather than an operations specialist like Cook, can close Apple's gap in artificial intelligence while sustaining the business Cook built will shape Apple's next chapter.