Apple says Tim Cook to step down as CEO in September 2026

NEW YORK, April 21. /TASS/. Chief Executive Officer of US technology giant Apple Tim Cook will step down from his post in the fall of 2026, and will be succeeded by John Ternus, Apple’s head of hardware engineering, the company said. "Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective on September 1, 2026. The transition, which was approved unanimously by the Board of Directors, follows a thoughtful, long-term succession planning process," the statement published on the company’s website said. Cook joined the company in 1998 and became CEO in 2011. Since then, Apple’s market capitalization has grown from $350 billion to $4 trillion, while its annual revenue has nearly quadrupled. Ternus joined Apple in 2001 and became the vice president of hardware engineering in 2013. The company’s statement notes that he played a key role in the launch of several major Apple product lines, including the iPad and AirPods, as well as multiple generations of iPhone, Mac and Apple Watch. Before joining Apple, Ternus studied mechanical engineering at the University of Pennsylvania and worked as an engineer at Virtual Research Systems.