Apple has officially announced a historic change at its helm: Tim Cook will step down as CEO on September 1, 2026, and become executive chairman of the board. To succeed him, the company has chosen John Ternus, the current head of hardware engineering, who will also join the board. The transition is presented as the result of a long-planned succession process approved by the board.
Even though John Ternus's name had already been circulating among Tim Cook's possible successors, the timing of the announcement came as a surprise. This handover comes at a strategic moment for Apple, as it approaches important milestones and seeks to demonstrate its commitment to artificial intelligence. Several analysts see it less as a radical break and more as an orderly transition, despite the surprise factor of the chosen date.
Fifteen years of Tim Cook at the helm of Apple
Having joined Apple in 1998, Tim Cook was appointed CEO in August 2011, following Steve Jobs' resignation. In nearly 15 years at the helm, Cook profoundly transformed Apple. The group's market capitalization grew from approximately $350 billion to $4 trillion under his leadership, while annual revenue increased from $108 billion in 2011 to over $416 billion projected for 2025.
This period was also marked by a transformation of Apple's business model. Under Tim Cook, the company not only continued its development around the iPhone, Mac, and iPad, but also significantly strengthened its services business, with the App Store, Apple Music, iCloud, Apple TV+, and Apple Pay, to the point of making it one of the most closely watched growth drivers for investors.
A solid track record, but criticisms regarding innovation and generative AI.
Tim Cook's tenure has often been compared to that of Steve Jobs. A recurring criticism concerns the lack, since the iPhone, of a product capable of creating a comparable industry revolution. During Cook's time at the helm, Apple launched the Apple Watch, AirPods, and more recently the Vision Pro, but the headphones did not achieve the level of adoption some observers had hoped for. In 2024, Vision Pro production was significantly reduced due to lower-than-expected demand.
It is primarily regarding generative artificial intelligence that criticism has intensified. Since the public launch of ChatGPT by OpenAI on November 30, 2022, the entire technology sector has accelerated. Apple is often perceived as having approached this strategic shift more slowly than some competitors. John Ternus inherits a powerful company, but one whose ability to more quickly integrate new artificial intelligence features into the iPhone, Siri, and its entire software ecosystem is being scrutinized.
John Ternus takes the reins at a pivotal moment for Apple
John Ternus, 50, has worked at Apple since 2001. His career is closely linked to the company's major hardware products. He played a central role in the development of the Mac, iPad, AirPods, and other key Apple devices. Apple is now placing him at the heart of the next chapter in its history, while a broader leadership reorganization has also been initiated.
This appointment comes at a time when Apple must meet a dual challenge. On the one hand, the company must preserve its vast installed base and brand image. On the other, it must reassure stakeholders of its ability to regain the lead in artificial intelligence without losing its core focus on the integration of hardware, software, and services. John Ternus will have to make progress on these issues while maintaining the momentum of physical products that has long been Apple's differentiator.
Tim Cook, a personal fortune of $2,9 billion
Tim Cook's personal fortune also increased along with Apple's valuation. As of April 20, 2026, his net worth was estimated at $2,9 billion. This amount remains significantly lower than that of many tech founders, but it illustrates the scale of value creation that occurred during the Tim Cook era.
The handover between Tim Cook and John Ternus is one of the most significant events in Apple's recent history. It marks the beginning of a new phase for the Californian company, just weeks before WWDC 2026, an event where Apple is particularly expected to make announcements related to artificial intelligence. The market will now be watching to see if John Ternus can build on Tim Cook's legacy while injecting more visible momentum into product and software innovation.
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