Tim Cook to Step Down as Apple CEO on September 1
Apple has appointed John Ternus as its new CEO, effective September 1. Ternus, who has spent 25 years at Apple, succeeds Tim Cook, who will transition to executive chairman. Under Cook's leadership since 2011, Apple's market capitalisation grew from approximately $350 billion to $4 trillion, with annual revenue increasing from $108 billion to over $416 billion by FY2025. Ternus, previously Senior Vice President of Hardware Engineering, has been instrumental in the development of key products like the iPad and AirPods. The leadership change was unanimously approved by Apple's board. Cook will assist Ternus during the transition and remain involved in high-level strategy as executive chairman.
Published 13 hours ago • 21 Apr 2026, 03:15 AM IST