Overview
- Tim Cook completed his final day as CEO on Monday, August 31, 2026, and will officially become executive chairman on September 1, 2026, according to company statements and internal memos reported across outlets.
- John Ternus, a 25‑year Apple veteran and senior vice president of hardware engineering, is set to assume the CEO role on September 1, 2026, bringing an engineering and product‑focused background to daily leadership.
- Cook’s farewell memo to employees publicly endorsed Ternus and emphasized continuity; the company held internal tributes at Apple Park that included remarks from executives and a performance by OneRepublic.
- Investors reacted with a modest stock dip on the leadership change, and analysts say Ternus’s early tests will include managing rising memory costs, supply constraints that could affect device margins and shipments, and accelerating Apple’s AI work.
- Ternus’s first major public responsibility will be leading Apple’s September 9 ‘Surprise and shine’ product event, which media report may include unconfirmed product launches such as a foldable iPhone and new iPhone models, a moment widely seen as an early test of his approach.