Apple announced on April 21, 2026, that CEO Tim Cook will step down effective September 1, 2026. Cook will transition to executive chairman of the board after leading the company since 2011.
John Ternus, current Senior Vice President of Hardware Engineering, will succeed Cook as CEO. Ternus joined Apple in 2001 and previously led engineering for the iPhone and Mac. He will also join the board of directors.
The board unanimously approved the transition following a long-term succession planning process. This marks Apple's most significant leadership change in over a decade.
Investors are monitoring potential shifts in strategy under Ternus. Key areas of focus include future product innovation and the company's direction in artificial intelligence.