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Apple Inc. (NASDAQ:AAPL) made a CEO transition announcement after Monday’s closing bell: Tim Cook will step down as CEO and transition to the role of executive chairman, while John Ternus — currently senior vice president of Hardware Engineering — will take over as CEO.
Both changes take effect Sept. 1, 2026, following a unanimous board vote. Cook will remain CEO through the summer to ensure a smooth handoff.
- AAPL stock is moving. See the chart and price action here.
“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said in a statement.
“I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, …
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