Tim Cook’s 15 years as Apple’s chief executive ended Tuesday, September 1, 2026, when John Ternus, previously the company’s Senior Vice President of Hardware Engineering, became CEO and joined Apple’s board of directors. Cook is not leaving Apple: he moves into a new role as executive chairman of the board, effective the same day. Arthur Levinson, who had served as Apple’s non-executive chairman for the prior 15 years, also changed roles Tuesday, becoming the board’s lead independent director.
The change was not a surprise. Apple announced the succession plan on April 20, 2026 — more than four months before it took effect — saying the board had approved it unanimously after a long-term succession planning process.
Key facts
- New CEO: John Ternus, previously Apple’s Senior Vice President of Hardware Engineering
- New role for Tim Cook: executive chairman of Apple’s board, effective September 1, 2026
- New role for Arthur Levinson: lead independent director, after 15 years as non-executive chairman
- Announced: April 20, 2026, more than four months before it took effect; the board approved it unanimously
- Ternus’s tenure: joined Apple in 2001; roughly 25 years at the company before becoming CEO
- Next Apple event: “Surprise and Shine,” September 9, 2026, 10 a.m. Pacific, Cupertino — Ternus’s first as CEO
Timeline
- April 20, 2026: Apple announces the succession plan; the board approves it unanimously
- July 28, 2026: Apple’s market capitalization briefly touches $5 trillion
- July 30, 2026: Cook holds his final earnings call as CEO
- August 31, 2026: Cook’s last day as CEO; he sends a farewell memo to staff
- September 1, 2026: Ternus becomes CEO; Cook becomes executive chairman; Levinson becomes lead independent director
- September 9, 2026: Apple holds “Surprise and Shine,” Ternus’s first product event as CEO
Cook’s last day, and what he told employees
Cook’s final day as CEO was Monday, August 31, 2026. He sent a farewell memo to Apple staff and posted a message publicly, writing that he is “not leaving Apple” but is “stepping away from a role that I have loved deeply,” and that “my title changes tomorrow, but the love I have for the Apple community never will.” He also praised Ternus as “brilliant and wonderful and capable” and said Ternus understands “what it takes to build products that change the world.” Cook remained CEO through the summer, including his final earnings call on July 30, 2026, when he thanked Apple’s shareholders, before the transition took effect.
When Apple announced the succession in April, Cook, Ternus and Levinson each gave statements marking the change. Cook said Ternus “has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and honor.” Ternus said he was grateful for the opportunity and pledged to lead by the values that have defined Apple, while Levinson called Cook’s tenure exceptional and said Ternus was the right person to succeed him.
Who John Ternus is
Ternus joined Apple in 2001, working on the company’s product design and engineering team. He became Vice President of Hardware Engineering in 2013 and was promoted to Senior Vice President of Hardware Engineering in 2021, joining Apple’s executive team and overseeing hardware development for products including the iPad, AirPods and recent iPhone models. That gave him roughly 25 years at the company before becoming CEO. (Outlets have reported his age inconsistently, as either 50 or 51; Apple has not stated his exact age or birth date.)
Media and analyst commentary has framed artificial intelligence as Ternus’s central near-term challenge, including work on a rebuilt version of Siri. Apple is reported to pay Google roughly $1 billion a year to license a customized version of to power a rebuilt Siri — a figure that Bloomberg has covered in its reporting on the deal, not a confirmed statement from Apple or Google. Beyond that, Apple has not announced specific decisions Ternus has made or will make about its AI strategy, spending or product roadmap.
What changes for Cook and for Levinson
Cook remains at Apple as executive chairman of the board of directors. Apple has not detailed what Cook’s new duties will cover day to day. The company has said only that he will assist with “certain aspects” of the company, including engaging with policymakers around the world.
Levinson, who had chaired Apple’s board on a non-executive basis for 15 years, is now the board’s lead independent director.
Apple’s growth under Cook, by the numbers
Cook joined Apple in 1998 as executive vice president of worldwide sales and operations and became CEO in 2011, succeeding Steve Jobs. Apple’s own account of his tenure, along with financial-media reporting, put Apple’s market capitalization at roughly $350 billion when Cook took over. By the time he stepped down, that figure had climbed further still: multiple reports put it at roughly $4.5 trillion to $4.67 trillion around the September 2026 handover, since Apple had already crossed the $4 trillion mark months earlier. Along the way, that market cap also touched $5 trillion briefly, on July 28, 2026, weeks before the handover. That $5 trillion figure was a passing peak, not the number tied to the handover itself. A separate measure is annual revenue, covered by Fox Business using Apple’s fiscal-year figures rather than the market-cap snapshots above. Apple’s revenue grew from about $108 billion in fiscal 2011 to about $416 billion in fiscal 2025, the most recent full fiscal year on record before the handover.
A September 9 event is coming, but it is a separate story
Apple has confirmed a product event called “Surprise and Shine” for September 9, 2026, at 10 a.m. Pacific time at its Cupertino headquarters, and multiple outlets report it will be Ternus’s first product event as CEO. Apple has confirmed the event’s date, time and location. It has not itself confirmed what will be unveiled there: reporting from outlets including Bloomberg, AppleInsider, CNN and TechCrunch describes a new Pro-tier iPhone and Apple’s first foldable iPhone as expected based on the invitation and prior reporting — not as products Apple has announced. Specific specs, pricing and even the foldable device’s name are still being reported differently across outlets and remain unconfirmed. That event is a separate, later date from Tuesday’s leadership transition, not part of it.