Tim Cook Steps Down as Apple CEO After 15 Years at the Helm

Tim Cook is stepping down as Apple’s CEO after 15 years leading the tech giant, closing one of the most remarkable chapters in the company’s history.

Cook’s final day as CEO is August 31, 2026, with Apple’s longtime hardware chief John Ternus set to officially take over on September 1. Cook will remain with the company as executive chairman, continuing to provide strategic support and engage with policymakers.

When Cook became CEO in 2011, Apple’s market value was around $350 billion. Today, the company is worth nearly $5 trillion, representing roughly a 14-fold increase in market value during his tenure.

That growth made Apple the world’s first company to repeatedly cross major market-cap milestones, including $1 trillion, $2 trillion and $3 trillion. But Cook’s legacy goes beyond Apple’s valuation.

Under Cook, Apple expanded its ecosystem with products such as the Apple Watch, AirPods and Vision Pro, while significantly growing services including Apple Music, Apple TV+, iCloud and Apple Pay.

Apple also became increasingly focused on its own technology, including the development of its custom Apple Silicon chips, while building a massive global services business. The company’s revenue has also grown dramatically—from roughly $108 billion in 2011 to nearly $400 billion in recent years.

Cook’s successor, John Ternus, has been with Apple since 2001 and currently serves as senior vice president of Hardware Engineering. His appointment was unanimously approved by Apple’s board following what the company described as a long-term succession-planning process.

Ternus takes over at a particularly important moment, with Apple facing growing pressure in artificial intelligence, competition in the technology industry and questions about its next major product cycle.

Tim Cook inherited Apple after the death of co-founder Steve Jobs and spent the next 15 years building a different kind of Apple—one focused heavily on operational excellence, services, global expansion and financial growth. He may no longer be CEO, but Cook isn’t leaving Apple completely. As executive chairman, he will remain involved in the company while Ternus takes responsibility for its day-to-day leadership.