Ternus Named Apple CEO

Apple said John Ternus will replace Tim Cook as chief executive on September 1, 2026. Cook will become executive chairman. (apple.com) Ternus is Apple’s senior vice president of hardware engineering, and the board approved the transition unanimously. Apple said Cook will stay on as chief executive through the summer to manage the handoff. (apple.com) Arthur Levinson, Apple’s non-executive chairman for the past 15 years, will become lead independent director on September 1. Ternus will also join Apple’s board that day. (apple.com) (cnbc.com) The change ends Cook’s run as Apple chief executive, a role he took in 2011 after Steve Jobs. CNBC reported Ternus will become Apple’s eighth chief executive. (cnbc.com) Apple is making the switch while investors press the company to show faster progress in artificial intelligence. Reuters reported Apple has lagged rivals in AI and lost the market-value lead to Nvidia. (reuters.com) Reuters said Ternus, 50, joined Apple in 2001 and helped lead work on the Mac, iPad, and AirPods. The same report said Apple has raised his public profile in recent years, including product presentations. (reuters.com) Apple said Cook will help with company matters as executive chairman, including engagement with policymakers around the world. That keeps him in a formal leadership role even after the chief executive title changes hands. (apple.com) CNBC reported Apple’s market capitalization closed at $4 trillion on April 20, more than 20 times its size when Cook took over. Reuters separately said Cook added about $3.6 trillion in market value during his 15 years leading the company. (cnbc.com) (reuters.com) Cook called Ternus “without question the right person” to lead Apple, and Ternus said he was “humbled” to take the job. On September 1, Apple’s next era will start with a hardware chief in the top seat. (apple.com)