Apple has announced that Tim Cook will step down as CEO and become executive chairman of the company’s board of directors, with hardware engineering chief John Ternus succeeding him as chief executive officer. Both changes take effect September 1, 2026. In a simultaneous announcement, Apple also named Johny Srouji as its first chief hardware officer, effective immediately.
The transition, approved unanimously by Apple’s board, ends Cook’s 15-year run as CEO. He joined Apple in 1998, became chief executive in August 2011 following the death of Steve Jobs, and oversaw one of the most remarkable stretches of growth in corporate history. Under his leadership, Apple’s market capitalization grew from roughly $350 billion to $4 trillion, revenue nearly quadrupled from $108 billion to more than $416 billion in fiscal year 2025, and the company’s active installed base reached more than 2.5 billion devices.
Cook said in a statement: “It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company.” Of his successor, Cook added that Ternus “has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor.”
Who Is John Ternus?
Ternus, 48, joined Apple’s product design team in 2001 and has spent his entire career at the company. He became a vice president of Hardware Engineering in 2013 and joined the executive team as SVP of Hardware Engineering in 2021. He has overseen the development of iPad, AirPods, multiple iPhone generations, the transition to Apple Silicon, and most recently the MacBook Neo and the iPhone 17 lineup. Cook transferred oversight of Apple’s design teams to Ternus late last year, a move widely read as confirmation of his successor status.
In his statement, Ternus said: “Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor. I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century.”
Ternus will also join Apple’s board of directors effective September 1.
Johny Srouji Named Chief Hardware Officer
In a separate announcement issued simultaneously, Apple named Johny Srouji its first-ever chief hardware officer, effective immediately. Srouji, who previously served as SVP of Hardware Technologies, takes on an expanded role that combines his existing silicon and technologies work with oversight of Hardware Engineering, the organization Ternus is stepping out of as he prepares to become CEO.
Srouji has led Apple’s silicon strategy since joining the company in 2008 to develop the A4, the first Apple-designed chip. He is widely credited as the architect of the Apple Silicon transition that moved the Mac away from Intel. Cook called him “one of the most talented people I have ever had the privilege to work with.”
Board Changes
Arthur Levinson, who has served as Apple’s non-executive chairman for 15 years, will become lead independent director on September 1 as Cook moves into the executive chairman role. Cook said of Levinson: “I have always found his advice to be invaluable and I appreciate his thoughtfulness and his unwavering dedication to the company.”
What Comes Next
Ternus takes over at a pivotal moment for Apple. The company is expected to unveil a foldable iPhone in September, deliver on a long-promised Siri overhaul at WWDC in June, and navigate an intensifying AI competition with Google, Microsoft, and a growing field of challengers. Cook’s role as executive chairman, which will include engaging with policymakers around the world, suggests he will remain a stabilizing presence during the transition, particularly given Apple’s complex geopolitical and trade environment.