John Ternus, Apple’s senior vice president of hardware engineering, became the company’s chief executive officer effective 1 September 2026, succeeding Tim Cook, according to the article, following a unanimous decision by the board as part of a long-term leadership succession plan.
Leadership transition
Cook remained in his post as chief executive throughout the summer and worked closely with Ternus to hand over responsibilities. The article said Cook would continue providing strategic support to the company in a new role it described as “executive chairman of the board,” with a focus on engaging with policymakers and regulators around the world.
In a farewell message, Cook said he was proud of his time leading Apple and described holding the position as a great honor. He also expressed his gratitude for working with the company’s team. He said Ternus had “the mind of an engineer, the spirit of an innovator, and the heart of an honest and principled leader,” referring to his vision and contributions at Apple over 25 years.
The Tim Cook era
Cook joined Apple in 1998 and became chief executive in 2011. During his tenure, the company launched product categories and products including the Apple Watch, AirPods and Apple Vision Pro, as well as services such as iCloud, Apple Pay, Apple TV and Apple Music, while also expanding its existing product lines.
The company’s market capitalization rose during that period from about $350 billion to $4 trillion, an increase of more than 1000%, while annual revenue nearly quadrupled, from $108 billion in fiscal 2011 to more than $416 billion in 2025, according to figures cited in the article.
Global expansion and services growth
Apple’s presence expanded to more than 200 countries and regions, with more than 500 retail stores in operation. Its employee base also grew by about 100,000, while the active device base reached more than 2.5 billion devices.
The value of the services business exceeded $100 billion, according to the article, equivalent to the size of one of the companies on the Fortune 40 list. The Cook era also saw the company transition to processors based on its own silicon designs, giving it greater control over its core technologies and the energy efficiency and performance of its devices.
