Tim Cook Steps Down as Apple CEO, Ternus Takes Helm

Tim Cook will step down as Apple's CEO on September 1, a role he has held since 2011. He will assume a new position as Apple's executive chairman, while veteran executive John Ternus is set to become the new CEO. Ternus, who has led hardware engineering, is lauded by Cook as an exceptional engineer deeply focused on detail. Sources suggest Ternus may implement significant design changes at Apple. This leadership transition coincides with a busy period for the company, with the iPhone 18 Pro launch event slated for September 9. The event is anticipated to unveil Apple's first foldable device, possibly priced over $2,000, alongside a new Apple Watch.

Apple is currently facing challenges related to rising component costs, driven by a memory supply shortage that has impacted product pricing. Despite these issues, the company maintains a dominant position in the smartphone market. The iPhone 17 was the world's best-selling smartphone in Q2 2026, with the iPhone 17 Pro Max and iPhone 17 Pro also securing top sales positions. Cook is expected to retain certain responsibilities, including managing relations with the White House.