Tim Cook Steps Down As Apple CEO After 15 Years

Apple Inc. on Monday announced that Tim Cook will step down as chief executive officer later this year, ending a 15-year tenure that transformed the company into a $4 trillion technology giant.

Cook will be succeeded by John Ternus, the company’s senior vice president of Hardware Engineering, with the transition set to take effect on September 1, 2026.

Cook, who became CEO in 2011 following Steve Jobs, will transition to the role of executive chairman of Apple’s board while remaining in his current position through the summer to ensure a smooth handover.

The company said the decision followed a “thoughtful, long-term succession planning process” approved unanimously by its board of directors.

In a statement, Cook expressed gratitude for his time leading the company, describing it as “the greatest privilege” of his life.

During his tenure, Cook oversaw the launch of major products and services, including the Apple Watch, AirPods and Apple Vision Pro, while expanding the company’s services business with platforms such as iCloud, Apple Music and Apple TV+.

He took over leadership at a critical moment after Jobs’ death in 2011, inheriting a company closely tied to its co-founder’s legacy, and went on to lead it through a period of sustained growth and global expansion.

Ternus, who joined Apple’s product design team in 2001, is widely regarded as a key figure in the company’s hardware development.

As part of the transition, Johny Srouji is expected to take on expanded responsibilities in hardware engineering.

Apple shares dipped slightly in after-hours trading following the announcement, though analysts remained largely confident in the company’s future direction.

The leadership change marks one of the most significant transitions in Silicon Valley in recent years, as Apple enters a new phase amid growing competition and rapid advances in artificial intelligence.