John Ternus Takes Over as Apple CEO, Teases Major Product Launch in First Memo

Quick Facts

• John Ternus, 50, officially became Apple’s CEO on September 1, 2026, with Tim Cook moving to Executive Chair.
• Ternus sent his first memo teasing a ‘huge launch next week,’ referencing Apple’s September 9 ‘Surprise and Shine’ event at the Steve Jobs Theater.
• Apple stock rose 3% to $325.92 on Ternus’s first day, even as the broader market sold off.

John Ternus became Apple’s chief executive on September 1, 2026, ending Tim Cook’s 15-year run atop the world’s most valuable company. Ternus wasted no time making his presence known, sending a memo to employees on his first morning and posting ‘Hello’ on X to his 66,000 followers.

In the memo, Ternus wrote: ‘I’m honored to be stepping into this role at what is truly the greatest company in the world, and I am so excited about everything we have in store. We have a huge launch next week that’s going to be phenomenal.’

The launch in question is Apple’s September 9 ‘Surprise and Shine’ event at the Steve Jobs Theater in Cupertino, set for 10 a.m. Pacific. The invite sent to journalists opens with the line ‘hey Siri, give us a hint,’ with dozens of prompts built into the voice assistant.

What Apple Is Expected to Announce

• The iPhone Ultra, Apple’s first foldable phone, featuring a book-fold design with a 7.6-inch inner display and 5.5-inch cover screen.
• iPhone 18 Pro and 18 Pro Max with the new 2nm A20 Pro chip. The standard iPhone 18 is delayed to spring 2027.
• Apple Watch Series 12, Apple Watch Ultra 4, AirPods 5, and a refreshed Apple TV 4K.
• A revamped Siri called Siri AI, built on large language model technology, capable of controlling apps including messaging and calendar.
• A Home Hub with a 6-to-7-inch display, an A18 chip, FaceTime support, and both tabletop and wall-mounted versions.

The September 9 event will be Ternus’s first as CEO. He has appeared on stage at prior Apple events, but this will mark his debut as the company’s public face.

Who Is John Ternus

Ternus joined Apple in 2001 and most recently served as Senior Vice President of Hardware Engineering. Bloomberg has described him as the ‘youngest member of Apple’s executive team’ and ‘charismatic and well-liked.’ His background is rooted in product and hardware, a contrast to Cook’s operational expertise.

His compensation package reflects the scale of the role. Apple raised his annual salary to $3 million and approved a prorated RSU award worth $2.5 million. The company’s People and Compensation Committee also granted an annual equity award with a target value of $55 million, to be issued in fiscal 2027.

Cook’s Record and What Ternus Inherits

Cook grew Apple’s market cap from $350 billion in 2011 to more than $4 trillion. Annual revenue reached $416 billion in fiscal year 2025. In the most recent quarter, Apple posted $109.4 billion in revenue, up 16%, with diluted EPS rising 29% to $2.02.

Cook told staff: ‘Few people understand what it takes to build products that change the world the way John does.’ Board member Art Levinson called Ternus ‘the best possible leader to succeed Tim.’

Wall Street is watching closely. Dan Ives of Wedbush noted that Ternus knows Apple’s hardware operations well, but said global leadership will require on-the-job learning. Tom Forte of Maxim Group estimated analysts would give Ternus six to 12 months to establish his footing.

Apple shares had already gained 36.5% over the past year before Ternus’s first day. The 3% jump on September 1, against a falling broader market, signals that investors, at least for now, are comfortable with the transition.

Read more: John Ternus hypes ‘huge launch next week’ in first memo as Apple CEO