CUPERTINO — Tim Cook stepped down as Apple CEO on September 1, 2026. John Ternus succeeded Cook as Apple CEO on the same day.

Cook assumed the role of executive chairman of Apple's board on September 1, 2026. Art Levinson became lead independent director of Apple's board on September 1, 2026.

The leadership change follows a period of executive departures at the company. Jeff Williams retired as Apple's chief operating officer in December 2025. Lisa Jackson retired as Apple's vice president for Environment, Policy, and Social Initiatives in December 2025.

Kate Adams retired as Apple's general counsel in December 2025. Paul Meade left Apple to join OpenAI in June 2026.

Sabih Khan serves as Apple's Chief Operating Officer. Kevan Parekh serves as Apple's Chief Financial Officer.

In a memo to employees, Cook expressed confidence in his successor. "I love this company and the team behind it," he said. He added that few people understand what it takes to build products that change the world the way Ternus does. He stated he would continue managing Apple's relationships with President Donald Trump and the Chinese government.

Ternus joined Apple in 2001. He became senior vice president of hardware engineering in 2021. During his tenure, Ternus oversaw hardware engineering for the iPad and AirPods, contributing to the development of multiple product generations across iPhone, Mac, and Apple Watch.

Phil Schiller stepped down from his position overseeing the App Store in late August 2026. Schiller will remain at Apple as an Apple Fellow. Carson Oliver will oversee day-to-day operations of the App Store.

The App Store division is transitioning from the marketing department to the services division. Eddy Cue heads Apple's services division.

Schiller joined Apple in 1987. He took over oversight of the App Store in 2015. Epic Games filed an antitrust lawsuit against Apple in 2020.

A judge dismissed the monopoly claims in the Epic Games v. Apple lawsuit. According to reports, Schiller served as an Apple Fellow and provided testimony in the lawsuit, confirming Apple's in-app purchase system and App Store policies.

Under Tim Cook's leadership, Apple's market capitalization grew from $350 billion in 2011 to $4 trillion by 2025, a 1,000% increase, while annual revenue nearly quadrupled from $108 billion to $416 billion. Apple shares grew nearly 25 times over during Cook's tenure, trading around $13 when he took charge and sitting at around $319 later. Apple's services segment, including the App Store, Apple Music, and Apple Pay, brings in over $100 billion a year. The September 9, 2026 Apple event is expected to feature a foldable iPhone, new Apple Watches, and a rebuilt Siri voice assistant.

Why It Matters

The transition marks a shift from an operations-led tenure to a hardware-focused leadership under Ternus. Cook's departure concludes a period where Apple's market value climbed from around $350 billion to close to $4 trillion. The simultaneous restructuring of App Store oversight occurs as the division moves to the services group, which generates substantial annual revenue.

Timeline

Phil Schiller joined Apple in 1987. Tim Cook joined Apple in 1998. John Ternus joined Apple in 2001.

Phil Schiller took over oversight of the App Store in 2015. John Ternus became senior vice president of hardware engineering in 2021.

What's New

Later reporting confirmed that Tim Cook assumed the role of executive chairman of Apple's board on September 1, 2026. Additional details emerged regarding Cook's internal communications, where he stated, "I love this company and the team behind it." He also wrote, "Few people understand what it takes to build products that change the world the way John does," and noted, "We share a belief that what we build matters and that we have both the opportunity and the responsibility to leave the world better than we found it."

Reports also provided background on Phil Schiller, noting he joined Apple in 1987, left in 1993, and returned in 1997 after Steve Jobs' return, later becoming a key figure in product marketing and App Store operations. Schiller served as an Apple Fellow and provided testimony in the Epic Games v. Apple antitrust lawsuit, confirming Apple's in-app purchase system and App Store policies.