Apple names John Ternus CEO as Tim Cook steps down after 15 years

September 1, 2026 at 03:15 PM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Apple's website updated its leadership page on September 1, 2026, confirming John Ternus as the new CEO, succeeding Tim Cook who stepped down on August 31 after 15 years at the helm. Cook will remain as executive chairman of the board. The transition was announced in April and proceeded as planned.

Key Facts

John Ternus became Apple's CEO on September 1, 2026, after serving as senior vice president of hardware engineering.
Tim Cook stepped down as CEO on August 31, 2026, and will continue as executive chairman of Apple's board.
Apple's stock rose 2.5% to $324.9 per share on Nasdaq following the leadership change announcement.
Tim Cook joined Apple in March 1998 and became CEO on August 24, 2011, succeeding Steve Jobs.
Apple's market capitalization stood at $4.75 trillion on September 1, 2026, down from a peak above $5 trillion under Cook.

Leadership Transition

Apple's corporate website updated its executive leadership page on September 1, 2026, listing John Ternus as chief executive officer. Tim Cook completed his tenure as CEO on August 31, 2026, after 15 years in the role. The succession plan was announced in April 2026, allowing for an orderly transfer of responsibilities. Cook will remain at Apple as executive chairman of the board of directors.

New CEO Background

John Ternus previously served as senior vice president of hardware engineering, overseeing development of iPhone, iPad, and Mac. Ternus has spent 25 years at Apple, working under both Steve Jobs and Tim Cook. He described Tim Cook as his direct mentor throughout his career at the company.

Market Reaction

Apple shares rose 2.5% to $324.9 on Nasdaq following news of the leadership change. Apple's market capitalization reached $4.75 trillion on September 1, 2026, ranking second globally behind Nvidia. During Cook's tenure, Apple's market value exceeded $5 trillion at its peak.