Effective September 1, 2026, Tim Cook will transition from his role as CEO of Apple to an executive chair position. This announcement follows a comprehensive succession planning process, and John Ternus, currently Senior Vice President of Hardware Engineering, will take over as CEO. Cook will continue to be involved in select matters, including international political discussions.
In a related move, Johny Srouji has been appointed as the Chief Hardware Officer, a position that expands his responsibilities to include Ternus’ Hardware Engineering unit along with hardware technologies. This change is effective immediately.
Cook has overseen substantial growth at Apple, increasing its market capitalization to over $4 trillion since he assumed the CEO role in August 2011. Under his leadership, the company launched successful products like the iPhone, AirPods, and Apple Watch, while also enhancing revenue from services such as Apple Music and Apple TV.
Despite these successes, Cook's tenure has faced challenges, including a stalled car project and issues with certain product launches. Moving forward, Apple aims to navigate these hurdles under new leadership.