Apple announced a shakeup to its top leadership on April 20, with Tim Cook to become executive chairman of the company's board of directors and John Ternus the next CEO.
In a statement, Apple said the decisions were unanimously approved by the board and follow a "thoughtful, long-term succession planning process."
The pair will begin their new roles on Sept. 1.
“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company," Cook said in the statement.
“I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”
In his new role, he will still assist with certain aspects of the company while working with policymakers around the world, according to the statement.
Cook will continue in his current role as CEO through the summer, working closely with Ternus, who is currently the senior vice president of hardware engineering, to ensure a smooth transition, the company stated.
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” Ternus said in the statement. “Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor.”
Cook described Ternus as a visionary whose contributions to the company, spanning more than 25 years, are too many to count.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor,” Cook said. “I could not be more confident in his abilities and his character.”
Also announced on April 20, Apple’s non-executive chairman, Arthur Levinson, who has served in the role for 15 years, will become the company’s lead independent director on Sept. 1.
Levinson said the board believes that Ternus is the best possible leader to succeed Cook.
“We know [Ternus’s] love of Apple, his leadership, deep technical knowledge, and relentless focus on creating great products will help lead Apple to an extraordinary future,” Levinson said in the statement.
Cook joined Apple in 1998 and became CEO in 2011, taking over the role from the late Steve Jobs.
He was instrumental in expanding existing products, according to the statement, while overseeing the introduction of the Apple Watch, Airpods, Apple Vision Pro, iCloud, Apple Pay, Apple TV, and Apple Music.
Under Cook, Apple stated that its market capitalization has grown by more than 1,000 percent—approximately to $4 trillion from $350 billion. Yearly revenue nearly quadrupled to more than $416 billion in Fiscal Year 2025 from nearly $108 billion in Fiscal Year 2011.
Apple has grown to more than 200 countries and territories around the world, operating more than 500 retail stores. During Cook’s tenure, the company’s employees have grown by more than 100,000 and increased its number of actively used products to more than 2.5 billion devices.
Ternus joined Apple’s product design team in 2001 and became vice president of hardware design in 2013. He took on his current role as senior vice president in 2021.
Apple said in the statement that he oversaw hardware engineering on a variety of products, describing him as instrumental to multiple products. Ternus’s team has worked to advance Airpods and allow them to serve as over-the-counter hearing aids.