Tim Cook Resigns as CEO of Apple

Tim Cook will resign as CEO of Apple on September 1, 2026. After more than 14 years at the helm of the company, he is handing over responsibility to John Ternus, who has been serving as the head of hardware. Cook led Apple into an era of unprecedented growth, making the company temporarily the most valuable in the world. He succeeded Steve Jobs in 2011 and has since introduced numerous products and services, including the Apple Watch and AirPods.

Under his leadership, Apple has also significantly increased its revenue and market capitalization. In 2021, Apple reached a market capitalization of over $2 trillion. The new CEO, John Ternus, has a long history at Apple, having been with the company since 2001. He played a crucial role in the development of the company's hardware products, including the latest iPhone models and the M1 and M2 chips. Ternus is regarded as an innovative thinker who is expected to further advance Apple's technical vision.

Cook stated that his resignation was a personal decision made after careful consideration. He emphasized that he is proud of the company's achievements and that he will continue to be available as an advisor. Cook plans to focus more on philanthropic projects, particularly in the areas of education and environmental protection. Under Cook's leadership, Apple has also significantly expanded its services, including Apple Music, Apple TV+, and iCloud. This diversification has helped reduce reliance on hardware sales and opened up new revenue streams.

In 2022, services already accounted for 20% of total revenue. The announcement of Cook's resignation came as a surprise to many in the industry. Analysts and investors are eager to see the future direction of the company under Ternus. The question of how Ternus will maintain Apple's culture of innovation remains open. Cook is regarded as one of the most successful CEOs in the company's history.

He has not only expanded the product range but also strengthened Apple's corporate values, including privacy and sustainability. These values are expected to continue to play a central role under Ternus. The transition to Ternus will be accompanied by a number of challenges, including increasing competition in the technology market and the need to explore new markets. Analysts expect Ternus to focus on the advancement of AI technologies and the integration of hardware and software. The official handover will take place during an event at Apple Park in Cupertino, scheduled for August 31, 2026. Cook will address employees with his final words as CEO and officially introduce Ternus into his new role.