Apple CEO Tim Cook announced his retirement at a strategic moment when the company is performing well, with strong financial results and successful product launches. His departure comes as Apple faces challenges in maintaining growth and navigating regulatory scrutiny.
Apple announced that Tim Cook will become executive chairman of the board and John Ternus, currently senior vice president of Hardware Engineering, will become CEO effective September 1, 2026. The transition follows a long-term succession planning process approved by the Board of Directors. Cook will continue as CEO through the summer while working with Ternus on the transition.
Tim Cook has stepped down as CEO of Apple. During his tenure, Apple's stock increased by more than 2,000%.
Apple's annual Environmental Progress Report shows the company's greenhouse gas emissions remain down over 60% compared to 2015 levels. The company has completed its transition to 100% fiber-based packaging, eliminating plastic from packaging by 2025 as pledged.
Former President Donald Trump praised Apple CEO Tim Cook, recalling how Cook sought his help during Trump's presidency. Trump noted that while Steve Jobs was talented, Apple has performed better under Cook's leadership. He described their relationship as productive, with Cook occasionally calling for assistance on business matters.
Tim Cook shares a personal letter to Apple users, expressing gratitude for their stories about how Apple products have impacted their lives. He describes reading daily emails from customers worldwide and feeling a deep sense of obligation and honor in his role as Apple's leader.