Tim Cook is stepping down as Apple’s CEO; John Ternus will take over as CEO
21 April 19:32
Apple has announced that its CEO, Tim Cook, will step down on September 1, 2026. John Ternus, who currently oversees product development, will become the new CEO. This was reported by Interesting Engineering, according to "Komersant Ukrainian".
Cook will remain in his position until the end of the summer to hand over responsibilities, after which he will become executive chairman of the board of directors.
The company noted that this decision was made as part of a long-term succession plan, which was unanimously supported by the board of directors.
Cook called this move a planned transition after more than a decade at the helm of the company. He said that being Apple’s CEO was the greatest honor of his life and that he deeply values the team he has worked with. He also expressed confidence in his successor, noting that Ternus has an engineer’s mindset and is well-suited to lead the company in the future.
Ternus thanked the board for their trust and stated that it was a great honor for him to lead Apple. He also recalled that he had worked at the company alongside Steve Jobs and had Cook as a mentor.
The changes will also affect the board of directors. Arthur Levinson, who has led it for 15 years, will become the lead independent director. Ternus will join the board following his appointment as CEO.
Levinson noted that under Cook’s leadership, Apple has grown significantly and become one of the most successful companies in the world. He also endorsed Turnus’s appointment.
During Cook’s tenure, the company expanded its business and launched new products, including the Apple Watch, AirPods, and AirTag, and built a services division with annual revenue exceeding $100 billion. Apple’s market value has grown from approximately $350 billion in 2011 to about $4 trillion.
Ternus has been with the company since 2001 and has led the development of key products such as the iPhone, Mac, and iPad. In recent years, he has been responsible for device updates and the transition to in-house processors, as well as for improving durability, materials, and energy efficiency.
The appointment of an engineer to the CEO position indicates that the company plans to continue focusing on product development.
