The transition, which was approved unanimously by the board, follows a thoughtful, long-term succession planning process, Apple said.
Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition. As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world.
Tim Cook joined Apple in 1998. He became CEO in 2011 and has overseen the introduction of numerous products and services, including new categories like Apple Watch, AirPods, and Apple Vision Pro, and services ranging from iCloud and Apple Pay to Apple TV and Apple Music.
Under his leadership, Apple has grown from a market capitalization of approximately USD 350 billion to USD 4 trillion, representing a more than 1,000 per cent increase, and yearly revenue has nearly quadrupled, from USD 108 billion in fiscal year 2011 to more than USD 416 billion in fiscal year 2025.
The company has expanded its global footprint substantially, particularly in emerging markets; it is now in more than 200 countries and territories. During Cook’s tenure, Apple has grown by more than 100,000 team members and increased its active installed base to more than 2.5 billion devices.
“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company. I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world,” Cook, said in a statement.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman,” he added.
Ternus joined Apple’s product design team in 2001 and became a vice president of Hardware Engineering in 2013. He joined the executive team in 2021 as senior vice president of Hardware Engineering.
Throughout his tenure at Apple, Ternus has overseen hardware engineering work on a variety of groundbreaking products across every category. He was instrumental in the introduction of multiple new product lines, including iPad and AirPods, as well as many generations of products across iPhone, Mac, and Apple Watch.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” said Ternus.
“Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor. It has been a privilege to help shape the products and experiences that have changed so much of how we interact with the world and with one another,” he added.
“ I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us. I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century,” Ternus added.
Arthur Levinson, who has been Apple’s non-executive chairman for the past 15 years, will become its lead independent director on 1 September. Ternus will join the board of directors, effective 1 September.
“Tim’s unprecedented and outstanding leadership has transformed Apple into the world’s best company. He’s introduced groundbreaking products and services time and again, and his integrity and values are infused into everything Apple does,” said Levinson.
“On behalf of the entire board of directors, we are incredibly grateful for his countless contributions to Apple and the world, and we are thrilled he will now be executive chairman. We believe John is the best possible leader to succeed Tim and as he transitions to CEO we know his love of Apple, his leadership, deep technical knowledge, and relentless focus on creating great products will help lead Apple to an extraordinary future,” he added.
Apple also named Johny Srouji as chief hardware officer.
Srouji, who most recently served as senior vice president of Hardware Technologies, will assume an expanded role leading Hardware Engineering, which John Ternus most recently oversaw, as well as the hardware technologies organization, it said.
