John Ternus, senior vp of {hardware} engineering at Apple Inc., all the way through an Apple tournament in New York, US, on Wednesday, March 4, 2026.
Adam Grey | Bloomberg | Getty Pictures
Apple stated on Monday that John Ternus is succeeding Tim Cook dinner as CEO, with Cook dinner assuming the position of govt chairman on Sept. 1.
Ternus, a senior vp of {hardware} engineering, will sign up for Apple’s board of administrators when he turns into leader. Apple’s non-executive chairman Arthur Levinson will change into the iPhone-maker’s lead impartial director on that date.
“Cook dinner will proceed in his position as CEO in the course of the summer season as he works carefully with Ternus on a easy transition,” Apple stated in a press unencumber.
It is the first CEO transition for Apple since Cook dinner, now 65, succeeded Steve Jobs on the helm in 2011, in a while earlier than Jobs’ dying. Ternus will change into Apple’s 8th CEO.
“It’s been the best privilege of my existence to be the CEO of Apple and to were relied on to guide such an atypical corporate,” Cook dinner stated in a commentary. “I really like Apple with all of my being, and I’m so thankful to have had the chance to paintings with a staff of such inventive, cutting edge, ingenious, and deeply worrying individuals who were unwavering of their willpower to enriching the lives of our shoppers and developing the most efficient services and products on the planet.”
Apple’s marketplace cap greater via more or less 24-fold on Cook dinner’s watch, ultimate on Monday at $4 trillion. Cook dinner took house $74.6 million in overall reimbursement ultimate 12 months, together with a $3 million base wage and thousands and thousands extra in inventory awards, in line with fresh regulatory filings. Forbes estimates his internet value at $2.2 billion.
Throughout his nearly 15-year tenure, Cook dinner oversaw Apple’s leap into wearable generation, with the rollout of the Apple Watch, AirPods and the digital fact headset Imaginative and prescient Professional, which has struggled to seek out marketplace adoption since its unencumber in 2024.
Earnings nearly quadurupled beneath Cook dinner, hiking to over $400 billion in the newest fiscal 12 months. Cook dinner is very best identified in Silicon Valley as an operations guru, revamping Apple’s provide chain after becoming a member of in 1998 as an govt vp of globally gross sales and operations. When he arrived, Apple used to be close to chapter.
Cook dinner was some of the Jobs’ dependable lieutenants and used to be increased to the position of Apple operations leader in 2005.
Ternus, who is about 15 years more youthful than Cook dinner, has been Apple’s {hardware} boss and has labored at Apple for roughly part his existence, becoming a member of simply 4 years after he graduated from the College of Pennsylvania with a point in mechanical engineering. He is been extensively considered as subsequent in line, with fresh profiles in The New York Occasions and Bloomberg. His portfolio has integrated oversight of the {hardware} engineering groups at the back of the iPhone, iPad, Mac, Apple Watch, AirPods and Imaginative and prescient Professional.
Then again, Apple faces a large number of demanding situations, together with an increasingly more complicated provide chain, geopolitical tensions, the Trump management’s price lists and a reminiscence crunch tied to hovering call for for AI chips.
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