John Ternus Named Apple CEO as Tim Cook Becomes Executive Chairman

Quick Facts

• John Ternus will replace Tim Cook as Apple CEO on September 1, 2026, with Cook becoming executive chairman
• Apple stock closed up 1.04% at $273.05 following the announcement, though after-hours trading showed a 2% decline
• Ternus, 51, has spent 25 years at Apple leading hardware engineering for products including iPhone, iPad, AirPods, and Vision Pro

Apple announced Monday that John Ternus will succeed Tim Cook as CEO, with Cook transitioning to executive chairman on September 1, 2026. The Board of Directors approved the succession plan unanimously.

Cook will continue as CEO through the summer to ensure a smooth transition. As executive chairman, he will engage with global policymakers and assist with company strategy.

Ternus joined Apple in 2001 after working as a mechanical engineer at Virtual Research Systems. He became vice president of hardware engineering in 2013 and joined the executive team in 2021 as senior vice president of Hardware Engineering.

“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity,” Cook said. “He is without question the right person to lead Apple into the future.”

Under Cook’s leadership, Apple’s revenue climbed to over $400 billion in the latest fiscal year. The company’s market value now exceeds $4 trillion, making it the third most valuable public company behind Nvidia and Alphabet.

Ternus will face immediate challenges in artificial intelligence, where Apple has lagged competitors. The company delayed Siri upgrades last year and faces pressure to accelerate AI development.

“For Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into artificial intelligence,” analysts noted. Wedbush Securities analyst Dan Ives called Ternus “the right pick” for Apple’s AI transition.

The leadership change also includes Johny Srouji becoming chief hardware officer in an expanded role previously held by Ternus.

Apple stock closed at $273.05, up $2.82 or 1.04%, though after-hours trading showed a nearly 2% decline as markets digested the unexpected announcement.

Read more: John Ternus is taking over from Tim Cook as Apple’s CEO