Tim Cook Steps Down as Apple CEO: John Ternus Takes Over
April 20, 2026 – 9:20 pm
Tim Cook is stepping down as Apple CEO on September 1 after nearly 15 years, during which the company’s market capitalisation grew from $348 billion to roughly $4 trillion and annual revenue quadrupled to $416 billion. John Ternus, the 50-year-old SVP of hardware engineering, who oversees approximately 80% of Apple’s revenue-generating products, will become the company’s fourth CEO, inheriting strategic challenges in AI, regulation, and a substantially rebuilt executive team following key departures.
A Brief Overview of Cook’s Tenure
Cook took over as CEO in August 2011, succeeding Steve Jobs. Under his leadership, Apple continued its meteoric rise, expanding into new product categories like the Apple Watch and solidifying its position in the global tech landscape.
Introducing John Ternus
Ternus, who joined Apple in 2001, has played a pivotal role in the development of key products like AirPods, iPad, Mac, iPhone, and Apple Watch. He was promoted to senior vice president of hardware engineering in 2021 and has been instrumental in Apple’s design and product strategy.
The Transition Plan
The board of directors unanimously approved the succession. Arthur Levinson will become the lead independent director when the transition takes effect. Cook will remain on as executive chairman, focusing on policy engagement and regulatory relationships.
"John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and honour," said Cook in a statement. “He is without question the right person to lead Apple into the future.”
Ternus’ Background
Before Apple, Ternus designed virtual reality headsets at Virtual Research Systems. He holds a degree in mechanical engineering from the University of Pennsylvania and was once a competitive swimmer. His extensive experience in hardware design and presentation skills have made him a familiar face at Apple product events.
The Succession Process
The transition was not sudden. Bloomberg reported in 2024 that Ternus was the front-runner, and planning intensified by October 2025. Cook himself had dismissed reports of his departure as "rumour" just weeks before the official announcement.