Tim Cook to step down as Apple CEO, names successor

Apple said Monday that Tim Cook will step down as CEO later this year, ending a nearly 15-year run atop the Cupertino company and setting up one of the biggest leadership changes in Silicon Valley in years.

John Ternus, Apple's senior vice president of hardware engineering, will become CEO on Sept. 1, the company said. Cook will remain in the role through the summer to help manage the transition.

The announcement represents Apple's biggest leadership change since Cook succeeded co-founder Steve Jobs in 2011. Since then, Apple has expanded beyond the iPhone into new product categories and services while growing into one of the world's largest companies.

"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," 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."

Apple's biggest leadership change in years

Under Cook, Apple introduced products including the Apple Watch, AirPods and Vision Pro, while expanding businesses such as iCloud, Apple Music, Apple Pay and Apple TV+. Apple said annual revenue rose from $108 billion in fiscal 2011 to more than $416 billion in fiscal 2025.

The company also said its market value grew from about $350 billion, when Cook became CEO, to roughly $4 trillion. Apple said its services business now generates more than $100 billion a year.

In a public letter, Cook reflected on hearing from customers over the years.

"For the past 15 years I've started just about every morning the same way," Cook wrote. "I open my email and I read notes I received the day before from Apple's users all over the world. In every one of those emails I feel the beating heart of our shared humanity. But most of all, I feel a gratitude that I cannot put into words."

He added: "This is not goodbye."

John Ternus, Apple's next CEO

Ternus, 50, is far less known to the public than Cook, but inside Apple, he has long been seen as one of the company's most important product leaders. He joined Apple's product design team in 2001 and rose through the engineering ranks before joining the executive team in 2021.

Apple said Ternus helped oversee hardware development across nearly every major product category, including the iPhone, Mac, iPad, Apple Watch and AirPods. He has also been closely tied to Apple's hardware strategy during a period when the company has put more emphasis on designing its own core technologies.

Ternus, a 25-year Apple veteran, will also join the company's board when he takes over as CEO. The change follows what the company described as a yearslong succession plan approved unanimously by its board.

"I am profoundly grateful for this opportunity to carry Apple's mission forward," Ternus said in a statement. "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."

Johny Srouji takes on a larger hardware role

Apple announced another senior leadership change Monday as part of the reshuffle. Johny Srouji, who has led Apple's hardware technologies group and played a central role in its chip development, was named chief hardware officer, effective immediately.

Srouji will take on an expanded role overseeing both hardware engineering and hardware technologies - responsibilities that had largely been under Ternus.

"Johny is one of the most talented people I have ever had the privilege to work with," Cook said in a statement. "His team has delivered breakthrough innovations that have transformed our products."

Apple also said Arthur Levinson, the company's non-executive chairman for the past 15 years, will become lead independent director on Sept. 1. Ternus will join Apple's board the same day.

"Tim's unprecedented and outstanding leadership has transformed Apple into the world's best company," Levinson said in a statement. "We believe John is the best possible leader to succeed Tim."

The transition comes at an important time for Apple, which remains one of the most closely watched companies in Silicon Valley and around the world.

Cook's move to executive chairman means he is expected to remain involved with the company after stepping down as CEO. Apple said he will continue to assist with some aspects of the business, including engagement with policymakers around the world.

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