Apple Appoints New CEO; Tim Cook Shifts To Executive Chairman

Apple Inc. (AAPL) announced Monday that it has named John Ternus as its next chief executive officer, succeeding longtime leader Tim Cook, who will transition to the role of executive chairman.

AAPL shares dipped nearly 1% in after-hours trading following the announcement. 

Ternus, who was previously the vice president of hardware engineering, will take over starting Sep 1, 2026 and executive Johny Srouji will take the expanded role of chief hardware officer, the company said. 

Ternus’ Background

Ternus joined Apple back in 2001 as a member of the product team, leading on to become the vice president of hardware in 2021- the department which contributes to over 80% of Apple’s revenue - overseeing iPhone, iPad, Mac, and AirPods.

“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor,” Cook said in a statement. “He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future.”

Ternus is a mechanical engineer from the University of Pennsylvania and used to work on virtual reality (VR) headsets at Virtual Research Systems before joining Apple. 

What's Next For Tim Cook?

Tim Cook joined Apple in 1998 and became CEO in 2011, overseeing the introduction of numerous products and services, including new categories such as Apple Watch, AirPods, and Apple Vision Pro, as well as services ranging from iCloud and Apple Pay to Apple TV and Apple Music.

Cook will continue in his role as CEO through the summer, working closely with Ternus to ensure a smooth transition. As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers worldwide.

Apple's other Leadership Changes?

Arthur Levinson, who has been Apple’s non-executive chairman for the past 15 years, will become its lead independent director with Ternus also set to join the board of directors effective September 1, 2026.

Johny Srouji (the mastermind behind Apple Silicon) has expanded his portfolio. He is now overseeing the entire Hardware Engineering department, taking over Ternus’ previous role. 

What Do Retailers Say?

A Stocktwits user exuded confidence in Apple’s product pipeline even after Cook’s move out of the top seat. 

https://stocktwits.com/Wenzhou/message/650830204

Another user was hopeful for more product development with the chief of hardware at the CEO post.

https://stocktwits.com/TheProlificProfiteer/message/650830171 Retail sentiment was ‘bullish’ on the stock with ‘extremely high’ message volumes. 

The stock was flat at 0.4% year-to-date.

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