Apple’s current CEO, Tim Cook, will be stepping down from his position later this year. The tech giant announced that John Ternus, a senior vice president of hardware engineering at Apple, will take over as the new CEO. Cook has been at the helm of Apple for nearly 15 years, succeeding Steve Jobs in 2011. Under Cook’s leadership, Apple’s market value surged from $350 billion in 2011 to over $4 trillion today, solidifying its position as one of the most valuable companies globally.
While Cook will transition to the role of executive chairman on September 1, 2026, the news of his departure has sparked various reactions within the tech industry. Sam Altman, CEO of OpenAI, lauded Cook’s legacy, expressing gratitude for his contributions to Apple. In contrast, Palmer Luckey, the founder of Oculus, humorously referenced an incident where President Donald Trump mistakenly called Cook “Tim Apple” in 2019.
Peter Oppenheimer, former Apple CFO, commended Cook for his exceptional performance in filling the shoes of Steve Jobs. Dipanjan Chatterjee, a principal analyst at Forrestor, acknowledged Cook’s success in upholding Jobs’ legacy and steering Apple towards substantial financial growth. Analyst Dan Ives noted the surprise surrounding Cook’s departure and endorsed Ternus as the successor.
John Ternus, known for his extensive experience at Apple spanning nearly 25 years, played a crucial role in transitioning Apple to in-house M-series chipsets for MacBooks. According to Bloomberg, Ternus oversees the development of products generating 80% of Apple’s revenue. With Cook’s impending departure, the tech world anticipates the next chapter under Ternus’ leadership.