Tim Cook to Exit Apple CEO Role in 2026, Ternus to Succeed

During Cook’s leadership, Apple launched products such as the iPhone X, Apple Watch, and AirPods, and expanded its services segment to become a major revenue driver. The company’s annual revenue grew from about $108 billion in fiscal 2011 to over $383 billion in fiscal 2023. These figures illustrate the scale of change under his direction.

As executive chairman, Cook will remain with Apple and focus on engaging with policymakers around the world. He will assist with global regulatory affairs, trade policy, and strategic partnerships. The role allows him to shape external relationships while stepping back from day‑to‑day operations.

John Ternus, currently senior vice president of hardware engineering, said he is humbled to step into the CEO role and will uphold Apple's values and vision. He emphasized his commitment to maintaining the culture of excellence that has defined the company for half a century. Ternus highlighted his experience overseeing hardware development as preparation for the new responsibilities.

The board confirmed the succession plan, noting Ternus’s oversight of products such as the iPhone, Mac, Apple Watch, and iPad. The transition will take effect on September 1, 2026, with Cook assuming the chairman role immediately after. Apple said the orderly handover reflects its long‑term leadership planning.

Observers will watch how the new CEO balances hardware advances with the growth of services such as Apple Music, iCloud, and Apple Pay. Services have become an increasingly important profit center, accounting for a growing share of total revenue. Maintaining momentum in both areas will be a key test for Ternus.

Cook’s chairman role may influence Apple’s approach to regulation, antitrust scrutiny, and international partnerships. His experience dealing with global policymakers could help navigate complex legal environments. The company’s stance on issues such as app store policies and data privacy may evolve under his guidance.