Tim Cook Steps Down as Apple CEO, Hands Power to Hardware Chief Ternus
Apple confirmed Monday that Tim Cook will step down as CEO, handing leadership to John Ternus in a move that reshapes the company’s future as it faces growing pressure in AI.
The transition is set for September 1, ending Cook’s tenure as the leader who took over after Steve Jobs and guided Apple through its most valuable era.
According to Apple’s announcement and multiple reports, Ternus, currently senior vice president of hardware engineering, will become CEO while Cook moves into the role of Executive Chairman.
The company said the decision followed a long-term succession plan, but the timing drew attention as Apple navigates delays in AI development and uneven reception to products like the Vision Pro.
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“It has been the greatest privilege of my life to be the CEO of Apple,” Cook said in a statement.
Cook’s leadership saw Apple’s valuation climb from roughly $350 billion to over $4 trillion, driven by products like the Apple Watch and expansion into services.
Ternus, a longtime engineer who has overseen core hardware lines, now steps in at a moment when Apple faces increasing competition in artificial intelligence and shifting product expectations.
The transition will unfold through the summer, with Cook remaining in place to guide the handoff before Ternus formally takes over in September.
The leadership change marks the start of Apple’s next phase under a new CEO.
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