Apple CEO Tim Cook is set to step down from the top executive position at Apple on 31 August 2026, marking a major leadership change for one of the world’s most influential technology companies. John Ternus will take over as the new Chief Executive Officer from 1 September 2026. Cook, who is 65, will continue to play an important role at the company as Executive Chairman of Apple’s board of directors.

The leadership transition follows a long period of preparation by Apple’s board. Ternus, who has spent 25 years at Apple, will become the company’s new CEO at a time when the technology industry is rapidly changing because of artificial intelligence, new computing platforms, advanced chips and growing competition in consumer electronics.

Tim Cook’s Long Leadership at Apple

Tim Cook became Apple’s CEO in 2011, succeeding co-founder Steve Jobs. Before becoming CEO, Cook was closely involved in Apple’s operations and supply chain. His leadership period saw Apple expand its product range and strengthen its services business.

During Cook’s tenure, Apple moved beyond being primarily known for computers and smartphones. Products such as the Apple Watch and AirPods became important parts of the company’s hardware ecosystem, while services such as subscriptions, digital content and cloud-based offerings also became increasingly significant.

Apple’s market value increased substantially during Cook’s time as CEO. The company, which had a market valuation of roughly $350 billion when Cook took over in 2011, reached a valuation of around $4 trillion in 2026, according to the figures provided in the report.

As Executive Chairman, Cook is expected to remain involved with Apple’s board and its broader long-term direction. The position can also involve engagement with policymakers, investors and other important stakeholders.

John Ternus Takes Over as CEO

John Ternus will become Apple’s new chief executive after more than two decades with the company. He joined Apple’s product design team in 2001 and gradually took on larger responsibilities within its hardware organisation.

Ternus became Senior Vice President of Hardware Engineering in 2021. His work has been closely connected with the development of Apple’s major hardware products, including the iPhone, iPad and Mac.

His experience in hardware development gives him a strong understanding of Apple’s product-focused business model. His appointment also represents continuity because he has worked within the company for many years and has been involved in the development of several generations of Apple products.

Apple’s board approved the succession plan on 20 April 2026 as part of a structured transition process.

Changes in Apple’s Board

The CEO transition is also accompanied by changes at the board level. Arthur Levinson, who served as Apple’s non-executive chairman for 15 years, will become the company’s lead independent director.

John Ternus will also join Apple’s board of directors after taking over as CEO. The changes are designed to provide a clear separation between executive management and board oversight while maintaining continuity in Apple’s leadership.

The board plays an important role in corporate governance, including overseeing senior management, long-term strategy and major business decisions.

Apple Enters a New Technology Phase

The change comes as Apple faces a rapidly evolving technology market. Artificial intelligence has become a major focus across the technology industry, with companies competing to add AI-powered features to smartphones, computers, cloud services and other products.

Apple is also working to strengthen its position in emerging areas such as spatial computing, advanced processors, health-related technology and connected devices. Maintaining its hardware and software ecosystem will remain an important part of the company’s strategy under the new leadership.

The transition also comes ahead of Apple’s traditional fall product cycle. The company is expected to introduce new products and updates, including the iPhone 18 Pro lineup and its first foldable device, according to the information provided.

Apple’s Global Business

Apple has a large global customer base and operates across hardware, software and digital services. The iPhone remains central to its business, while the Mac, iPad, Apple Watch and AirPods contribute to its wider product ecosystem.

The company also operates services that connect users across its devices. This integrated approach has helped Apple build a strong relationship between its hardware products and digital services.

For Ternus, leading Apple will therefore involve more than overseeing new devices. The new CEO will be responsible for maintaining the company’s global operations, product development, software ecosystem, supply chain relationships and long-term technology strategy.

What the Leadership Change Means

The move from Cook to Ternus represents a planned succession rather than an abrupt change. Cook will remain connected to the company as Executive Chairman, while Ternus will take responsibility for day-to-day executive leadership.

The transition gives Apple an opportunity to combine continuity with a new leadership perspective. Ternus brings extensive experience in hardware engineering, while Cook remains available to support the board and the company’s broader direction.

The change also places Apple’s leadership transition alongside an important period for the global technology sector, with artificial intelligence, semiconductor development, foldable devices and new computing platforms shaping competition among major technology companies.