Apple Inc. has announced that chief executive officer Tim Cook will step down in September, marking a major leadership transition at the $4 trillion technology company.
Cook will hand over the role to long-time Apple executive John Ternus, who has been appointed as the company’s next CEO. Cook is expected to transition into the role of executive chairman of Apple’s board.
In a statement, Cook described his tenure as the most significant privilege of his career, saying he was honoured to have led the company through more than a decade of growth and transformation.
“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.
Cook joined Apple in 1998 and played a key role in strengthening the company’s global supply chain before becoming CEO in 2011, succeeding co-founder Steve Jobs after his departure due to illness.
Under his leadership, Apple expanded its product ecosystem significantly, introducing new categories such as the Apple Watch and AirPods while increasing the company’s market value to around $4 trillion.
Cook also oversaw Apple’s deep manufacturing ties with China, where most iPhones are assembled by partners such as Foxconn, helping scale production globally.
Outgoing board chairman Arthur Levinson praised Cook’s leadership, describing him as instrumental in transforming Apple into a global technology leader and embedding strong values across the company.
Ternus, who has worked at Apple since 2001, rose through the ranks to become senior vice president of hardware engineering. He has been involved in the development of major products including the iPhone, iPad, Mac computers and Apple Watch.
In his remarks, Ternus said he had been mentored by both Steve Jobs and Tim Cook throughout his career at Apple.
Analysts say the leadership change comes at a critical moment for Apple as it seeks to strengthen its position in artificial intelligence, an area where rivals such as Google, Microsoft and OpenAI have moved aggressively ahead.
The company has faced scrutiny over delays in upgrading its Siri digital assistant and increasing reliance on external partners, including Google, for AI capabilities.
Industry observers note that while Cook successfully expanded Apple’s product lineup and financial performance, he is not associated with the breakthrough product innovations that defined the Steve Jobs era.
Apple’s experimental projects under Cook, including its self-driving car initiative—scrapped in 2024—and the high-priced Vision Pro headset, have struggled to achieve major commercial success.
With Apple marking its 50th anniversary, the leadership transition is widely seen as a defining moment for the company as it navigates a new phase of competition centred on artificial intelligence and next-generation computing.
Analysts say incoming CEO John Ternus will face immediate pressure to accelerate Apple’s AI strategy and deliver new growth-driving innovations.
