John Ternus

Tim Cook marks his last day as Apple's chief executive with a short note on X. '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,' he wrote. John Ternus, Apple's senior vice president of Hardware Engineering, becomes CEO on 1 September 2026. Cook remains at Apple as executive chairman. The board approved that plan in April. How he got the job Cook got the job on 24 August 2011, the day Steve Jobs resigned as CEO. Jobs recommended the board appoint his chief operating officer. Cook had joined Apple in 1998 and ran worldwide sales, operations and the supply chain. Business Standard notes Jobs had stepped down because of ill health and died later that year. From $350 billion to $4 trillion Apple was already a valuable iPhone company. Its April succession statement put market capitalisation then at about $350 billion and fiscal 2011 revenue at $108 billion. By fiscal 2025 Apple put those figures at $4 trillion and more than $416 billion: more than 1,000 per cent higher in market value, with yearly revenue nearly four times as large. Apple's October 2025 results confirmed a record fiscal year of $416 billion in revenue. Active devices rose to more than 2.5 billion. Staff numbers grew by more than 100,000. Apple now operates in more than 200 countries and territories and has more than 500 retail stores. What he added in his tenure iPhone stayed the core product. Cook grew a services business around it. Apple says Services, including iCloud, Apple Pay, Apple TV and Apple Music, now bring in more than $100 billion a year, the size of a Fortune 40 firm. Motley Fool's recap of the tenure says the iPhone still accounts for more than half of sales. Apple Watch, AirPods and Apple Vision Pro all launched while he was CEO. Apple also moved Macs off Intel chips onto its own silicon, which the company says let it own more of the technology inside the machines. Shareholders Motley Fool calculated Apple stock returned about 2,230 per cent from Cook's first day through early August 2026. A $10,000 investment would have grown to roughly $233,000 including dividends. Recent market capitalisation sat near $4.5 trillion to $4.7 trillion, above the $4 trillion Apple cited in April. Last earnings call as CEO On 30 July 2026 Cook held his last earnings call as CEO. Fiscal third-quarter revenue was $109.4 billion, up 16 per cent year on year, with June-quarter records for iPhone, Mac and Services. He pointed to an overhauled Siri AI shown at WWDC26. Ternus takes over while Apple is still trying to strengthen Siri after rivals moved earlier on generative models. 9to5Mac reports Cook will not appear at Apple's 9 September 'Surprise and shine' event, which Ternus will lead. The site expects a foldable iPhone Ultra among the hardware. Apple has not confirmed those products. Ternus taking over Ternus joined Apple's product design team in 2001, became a hardware vice-president in 2013 and joined the executive team in 2021. Cook called him 'the right person to lead Apple into the future.' Arthur Levinson, non-executive chairman for 15 years, becomes lead independent director. Cook is staying as executive chairman, he will still handle parts of the company, including talks with policymakers which according to sources includes relationships with the US president and the Chinese government.

John Ternus

Tim Cook’s last day as Apple CEO after 15 years

Tim Cook’s last day as Apple CEO after 15 years

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