Tim Cook is stepping down as CEO of Apple on September 1, 2026, after a 15-year tenure that saw the company’s market value grow to approximately $4 trillion. Cook will transition to the role of executive chairman, focusing on policy engagement. He is succeeded by John Ternus, the company’s former senior vice president of hardware engineering. Ternus, an engineer by trade, assumes leadership as Apple faces a critical shift toward artificial intelligence and seeks to develop its next major computing platform. His immediate focus includes the upcoming September 9 product event, which is expected to feature a new iPhone generation.