John Ternus Takes Over Apple as CEO, While Tim Cook Becomes Chairman After 15 Years Leading the Company
Tim Cook marks final day as Apple CEO after 15 years
Cupertino: Tim Cook marked his final day as Apple’s chief executive with a brief but emotional message to the company’s global community, closing one of the most consequential chapters in the technology giant’s history.
“Sending lots of love to the Apple community on my last day as CEO. My title changes tomorrow, but the love I have for the Apple community never will,” Cook wrote on X.
The message came as Cook prepares to hand over the CEO role after 15 years at the helm. From September 1, 2026, Apple’s senior vice president of Hardware Engineering, John Ternus, will become chief executive. Cook will remain involved with the company as executive chairman.
Apple’s board approved the leadership transition in April, giving the company a carefully planned succession after years of speculation over who would eventually replace Cook.
How Tim Cook became Apple CEO
Cook became Apple CEO on August 24, 2011, the same day Steve Jobs resigned from the position. Jobs had recommended Cook to the board after years of working closely with him.
Cook had joined Apple in 1998 and quickly became an important figure behind the company’s operations. He oversaw worldwide sales, operations and supply-chain management, helping Apple build the highly efficient system that supported its growing product business.
Jobs stepped down because of ill health and died later in 2011. Cook therefore inherited the responsibility of leading Apple during an extraordinarily emotional and uncertain period.
From $350 billion to nearly $4 trillion
When Cook took over, Apple was already one of the world’s most valuable companies. Apple’s April succession statement said its market capitalisation was around USD 350 billion , while fiscal 2011 revenue stood at USD 108 billion .
By fiscal 2025, Apple reported revenue of more than USD 416 billion , while the company’s market value had climbed to around USD 4 trillion at the time of its April announcement.
The transformation goes beyond financial numbers. Apple now has more than 2.5 billion active devices worldwide, employs more than 100,000 additional people compared with Cook’s early years and operates across more than 200 countries and territories.
The company also has more than 500 retail stores, making Apple’s presence increasingly visible in everyday life around the world.
The iPhone remained Apple’s biggest business under Cook, but he expanded the company far beyond hardware.
Apple built a huge Services business around its devices, including iCloud, Apple Pay, Apple TV and Apple Music. The company says Services now generate more than USD 100 billion in annual revenue , highlighting how deeply recurring digital services have become part of Apple’s business.
Cook’s tenure also saw the launch of products including the Apple Watch, AirPods and Apple Vision Pro.
One of his most important technology decisions was moving Mac computers away from Intel processors and toward Apple’s own silicon. The transition gave Apple greater control over the technology inside its computers and helped strengthen the connection between its hardware and software.
For consumers, Cook’s era has therefore been less about one dramatic new product replacing the iPhone and more about expanding the Apple ecosystem around the devices people already use.
A remarkable shareholder journey
Apple investors also benefited enormously during Cook’s leadership. Motley Fool calculated that Apple stock delivered a return of about 2,230 per cent from Cook’s first day as CEO through early August 2026.
That means a USD 10,000 investment at the beginning of Cook’s tenure would have grown to roughly USD 233,000 , including dividends.
As Cook prepares to move into his new role, the numbers tell only part of the story. His final message suggests that, for him, the Apple journey is not ending — only his title is changing.
Tim Cook’s last day as Apple CEO is August 31, 2026 .
John Ternus becomes CEO on September 1, 2026.
Cook will remain executive chairman .
Apple’s market value rose from about USD 350 billion to around USD 4 trillion during his tenure.
Apple’s annual revenue increased from USD 108 billion to more than USD 416 billion .
Services now generate more than USD 100 billion annually , according to Apple.
Apple launched products including Apple Watch, AirPods and Vision Pro under Cook.
Apple stock returned roughly 2,230 per cent during his tenure, according to Motley Fool.