Apple CEO Tim Cook announced on Monday that he will step down from his position on September 1, 2026, after 15 years leading the company. His successor will be John Ternus, currently Apple’s senior vice president of hardware engineering. Cook will remain as chairman of the board following the transition.
The leadership change marks the end of an era for Apple, which saw substantial growth under Cook’s tenure. During his time as CEO, Apple launched major products including the iPhone 12 series, Apple Watch Series 6, and the M1 chip. The company also expanded its services division and reached a $3 trillion market valuation in 2022.
Cook joined Apple in 1998 and became CEO in August 2011, succeeding Steve Jobs. His leadership included navigating supply chain disruptions, regulatory scrutiny, and the global pandemic while maintaining strong revenue growth. Apple’s annual revenue rose from $108 billion in 2011 to over $394 billion in 2025.
Ternus has been with Apple since 2001 and has led development of key products such as the iPhone, iPad, and Vision Pro. His appointment signals continuity in Apple’s hardware strategy. The transition process will begin immediately and is expected to be completed by the announced date.
Apple’s stock rose slightly in after-hours trading following the announcement. Analysts expect the leadership change to have minimal short-term impact given Ternus’s deep experience within the company.
Source: itavisen.no