Cook to Exit Apple in 2026

Tim Cook will leave the Chief Executive Officer role at Apple Inc. on September 1, 2026, ending a 15-year tenure at the top of the company. Apple said John Ternus, the company’s Senior Vice President of Hardware Engineering, will take over as CEO. Cook joined Apple in 1998 and became CEO in 2011, after serving as the company’s Chief Operations Officer.

The leadership change comes after a period in which Apple’s scale and global footprint expanded substantially under Cook. Officials said Apple’s market valuation rose from under $350 billion in August 2011 to $4.01 trillion by April 2026. The company also hit a series of milestone valuations: $1 trillion in 2018, $2 trillion in 2020, $3 trillion in 2022, and $4 trillion in 2025.

Apple’s financial performance also strengthened during Cook’s time as CEO. Data cited in the announcement shows net income reached $112 billion for the fiscal year ending September 2025. That figure was described as an eight-fold increase compared with September 2010.

Operationally, Cook’s background in logistics and manufacturing was central to Apple’s approach. The company said he played a key role in widening Apple’s global supply chain and deepening its presence in China. Over the same period, Apple added approximately 200 retail stores worldwide, a move the company linked to its broader growth and global reach.

The transition is being announced after a stretch that included major external disruptions. Apple said its performance and expansion continued despite challenges such as the COVID-19 pandemic and geopolitical tensions. The company did not provide additional details in the material about how responsibilities will shift ahead of September 1, 2026, or what Cook’s role will be after stepping down.

For markets, the handover places a long-serving operations-focused CEO’s exit alongside the elevation of a senior hardware executive. Apple’s valuation milestones and profit figures under Cook have made the CEO role closely watched by global investors, suppliers, and policymakers, given Apple’s international supply chain and retail footprint.

The company’s statement identifies the successor and the date, but leaves open questions about the pace and scope of any strategic changes once Ternus assumes the position.