Tim Cook has officially concluded his tenure as the Chief Executive Officer of Apple, stepping down from the position on September 1, 2026. He served as the company's leader for fifteen years.
John Ternus has succeeded Tim Cook. Previously, he held the position of Senior Vice President of Hardware Engineering and has twenty-five years of experience working at the corporation. Tim Cook himself will remain within the organization, taking the role of Executive Chairman of the Board.
In his farewell message on the social network X, Tim Cook expressed gratitude to the brand's fans, noting that they have been a continuous source of inspiration for him. Following the announcement of the leadership change, Apple shares on the Nasdaq stock exchange rose by 2.5 percent, reaching $324.9 per share.
Tim Cook took over the leadership of Apple on August 24, 2011, replacing Steve Jobs. During his leadership period, the company's product line expanded significantly, and its market capitalization exceeded $5 trillion, making Apple the second most valuable company in the world after Nvidia. As of September 1, Apple's market value was estimated at $4.75 trillion.
The new leader, John Ternus, previously oversaw the development of major Apple products such as the iPhone, iPad, and Mac. The last significant event featuring Tim Cook in his role as CEO was the WWDC 2026 conference in June, where the new version of the iOS 27 operating system with an updated Siri AI voice assistant was presented.