Apple Names John Ternus as Next CEO, Ending Tim Cook's 15-Year Run at the Top

Apple announced that Tim Cook will become executive chairman of Apple's board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple's next chief executive officer effective on September 1, 2026. The transition was approved unanimously by the Board of Directors, following a long-term succession planning process. Under Cook's stewardship, Apple shares appreciated more than 1,700%, and Apple's market value now stands at more than $4 trillion, making it the third most valuable public company in the world. As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world. Ternus, who at 51 is nearly the same age Cook was when he became CEO, studied mechanical engineering at the University of Pennsylvania and joined Apple's product design team in 2001. For Ternus, perhaps the most critical aspect of his new job will be pushing the company deeper into artificial intelligence, where it has lagged many of its megacap peers. Apple shares dipped slightly — less than 1% — in after-hours trading following the news.

‍