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Tim Cook has officially stepped down as Apple's CEO.

Tim Cook has officially stepped down as Apple's CEO.

Effective September 1, 2026, Tim Cook officially stepped down as Apple's CEO after 15 years in the role.

He is succeeded by John Ternus, who previously served as Senior Vice President of Hardware Engineering and has 25 years of experience at the company. Cook will continue to serve as Executive Chairman of the Board.

In his farewell address on the social network X, Cook expressed gratitude to the brand's fans, calling them an inexhaustible source of inspiration. Amid news of the leadership change, Apple shares on the Nasdaq rose 2.5 percent, reaching $324.90 per share. Tim Cook took over as Apple CEO on August 24, 2011, succeeding Steve Jobs. During his 15 years at the helm, the company significantly expanded its product line, and its market capitalization exceeded $5 trillion, becoming the second-largest company in the world after Nvidia. As of September 1, Apple's market value was $4.75 trillion.

The company's new CEO, John Ternus, previously oversaw the development of Apple's key products, including the iPhone, iPad, and Mac. Tim Cook's last major conference as CEO was WWDC 2026 in June, where the company unveiled the new iOS 27 operating system, featuring an updated Siri AI voice assistant.

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