This is a historic change for Apple. Monday, March 31st, marks Tim Cook's last day as CEO of the American giant. After fifteen years at the helm of the company founded by Steve Jobs and Steve Wozniak, the 65-year-old executive is stepping down. Starting Tuesday, September 1st, John Ternus will become Apple's new CEO. Tim Cook's departure from the top job was announced on April 20th. The succession, long in the planning stages, was unanimously approved by the board of directors. Tim Cook is not leaving Apple entirely, however: he becomes executive chairman of the board and will therefore continue to play a role within the company.
Fifteen years after Steve Jobs, Tim Cook hands over the reins
Tim Cook took the helm of Apple in August 2011, a few weeks before Steve Jobs' death. Having joined the company in 1998, he was one of the key architects of its industrial organization and supply chain. His arrival at the top ushered in a period of uncertainty. The question then was whether Apple could continue its development without its co-founder and iconic figure. Fifteen years later, the figures reveal the extent of the transformation. When Tim Cook took over, Apple had a market capitalization of approximately $350 billion and generated $108 billion in annual revenue. By 2025, revenue had exceeded $416 billion and the company's market capitalization had reached the $4 trillion mark. The installed base now exceeds 2,5 billion active devices worldwide. The workforce has also grown by more than 100,000 people during Cook's tenure.
Apple Watch, AirPods, services: Cook's Apple wasn't limited to the iPhone
Tim Cook inherited a company where the iPhone had already become the core product. Under his leadership, however, Apple has expanded significantly into new categories. The Apple Watch was launched in 2015, AirPods in 2016, and the Apple Vision Pro in 2024. Apple has also considerably developed its services with Apple Music, Apple Pay, iCloud, and Apple TV. This business now represents over $100 billion in annual revenue. Another key transformation has been the gradual phasing out of Intel processors in Macs in favor of chips designed directly by Apple. Launched with the M1 chip in 2020, this strategy has allowed the company to have greater control over the hardware and software design of its computers.
"The greatest privilege of my life"
When announcing his departure from the CEO position, Tim Cook delivered a particularly personal message : "It has been the greatest privilege of my life to be the CEO of Apple and to have been given the trust to lead such an extraordinary company."
He had also expressed his confidence in his successor, John Ternus : "John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and honor." Tim Cook added that he could not be "more confident in his abilities and character . "
John Ternus, 25-year career at Apple
The new CEO is not an outsider. John Ternus, 51, has worked at Apple since 2001, a quarter of a century. A graduate in mechanical engineering from the University of Pennsylvania, he previously worked as an engineer at Virtual Research Systems. He joined Apple's product design team before becoming Vice President of Hardware Engineering in 2013, and then Senior Vice President of Hardware Engineering in 2021. In this role, Ternus oversaw the teams responsible for the hardware development of such strategic products as the iPhone, iPad, Mac, Apple Watch, AirPods, and Vision Pro. He notably participated in the launch of the iPad and AirPods, as well as the development of numerous generations of iPhones and Macs. His profile thus marks the choice of an engineer and product specialist to succeed Tim Cook, who is more associated with the group's industrial and operational organization. "Having spent almost my entire career at Apple, I was fortunate to work under Steve Jobs and to have Tim Cook as a mentor ," John Ternus said after the announcement of his appointment.
Tim Cook remains powerful at Apple
August 31st does not, therefore, mark Tim Cook's definitive departure. Effective September 1st, he will become Executive Chairman of the board. Apple has already stated that he will continue to participate in certain company activities, particularly in relations with political leaders worldwide. This change also entails a reorganization of the board. Arthur Levinson, who has served as non-executive chairman for the past fifteen years, will become Lead Independent Director. John Ternus, for his part, will join the board at the same time as he assumes the role of CEO. The transition between the two men was organized throughout the summer. As recently as the end of July, Tim Cook explained that he was mentoring his successor and sharing his experience across several of the company's activities.
A crucial first meeting on September 9th
John Ternus will have virtually no time before his first major public appearance as CEO. Apple has scheduled its next big event for September 9, just eight days after he takes office. The company is expected to unveil its new generation of iPhones. A foldable model, anticipated for several years, could be among the key new features. The new CEO inherits a gigantic corporation, but one facing several strategic challenges: artificial intelligence, the dependence of some of its production on China, regulatory pressures in the United States and Europe, and the need to continue renewing its product line. After fifteen years without a change at the top, Apple is thus entering only its second era since the passing of Steve Jobs on September 1, 2026: the era of John Ternus.
