Tim Cook, the long-serving chief executive of Apple, is set to conclude his tenure on September 1, 2026. Following more than 15 transformative years leading the iPhone maker, Cook will transition to the role of Apple’s executive chairman, the company announced as part of a multi-year succession plan.
His successor will be John Ternus, who currently serves as Apple’s senior vice president of Hardware Engineering. This leadership change marks a new chapter for one of the world's most valuable companies.
A Legacy of Unprecedented Growth
Cook’s time as CEO has been defined by remarkable financial expansion and continued product innovation. Under his leadership, Apple’s market capitalization surged from approximately $350 billion to an astounding $4 trillion, representing an increase of over 1,000 percent. Annual revenue also saw substantial growth, rising from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025.
This period also saw the expansion of Apple's services division, the introduction of new product categories like the Apple Watch and AirPods, and a continued focus on the iPhone, which remained the company's flagship product.
The Path to Leadership
Tim Cook officially became Apple’s CEO on August 24, 2011, following the resignation of co-founder Steve Jobs, who then became chairman of the board. Jobs passed away six weeks later, on October 5, 2011, making Cook’s transition a critical moment for the company.
Before taking the top job, Cook had amassed extensive operational experience within Apple. He joined the company in March 1998 as senior vice president for worldwide operations, steadily advancing through roles including vice president for worldwide sales and operations, and eventually becoming chief operating officer in 2007. His responsibilities often included managing the bulk of Apple's daily business, particularly during Jobs' medical leave in 2011, positioning him as the natural choice for succession.
As executive chairman, Cook is expected to remain involved with Apple, contributing to the board and helping to guide the company's strategic direction into its next phase of development.