Cook will remain in charge through the summer to oversee a smooth transition before assuming the role of Executive Chairman of Apple’s board. In his new position, he is expected to continue supporting the company and engaging with global policymakers.
Cook, who joined Apple in 1998 and became CEO in 2011, led the company through a period of significant expansion. During his tenure, Apple launched key products and services including the Apple Watch, AirPods, Apple Vision Pro, and iCloud. Under his leadership, the company’s market value surged from around $350 billion to approximately $4 trillion, while annual revenue grew from $108 billion in 2011 to $416 billion in fiscal year 2025. Apple also expanded its services division into a business generating over $100 billion annually and transitioned to its own custom-designed silicon.
Incoming CEO John Ternus has been with Apple since 2001 and currently serves as Senior Vice President of Hardware Engineering. He has played a central role in the development of major product lines, including the iPhone, iPad, Mac, Apple Watch, and AirPods. He will also join Apple’s board of directors.
The company also announced additional leadership changes. Arthur Levinson will move from non-executive chairman to lead independent director starting September 2026. Meanwhile, Johny Srouji has been appointed Chief Hardware Officer, taking over responsibilities previously held by Ternus.
The transition marks a significant moment for Apple as it shifts leadership while maintaining continuity through Cook’s ongoing involvement at the board level.
