Apple’s new CEO: Apple Inc. just made one of the biggest announcements in its 50-year history. On April 20, 2026, the company confirmed that Tim Cook – the man who has run Apple for the past 15 years – is stepping down as CEO. His successor is John Ternus, currently Apple’s Senior Vice President of Hardware Engineering, who will take charge as the new chief executive officer effective September 1, 2026.
Meanwhile, Cook isn’t going far. He will become executive chairman of Apple’s board of directors, where he will continue to engage with policymakers around the world.
Who exactly is John Ternus?
If you haven’t heard the name before, here’s what you need to know. Ternus is an American engineer born in 1975 who has served as Apple’s hardware engineering chief since 2021. He holds a degree in mechanical engineering from the University of Pennsylvania and was even a competitive swimmer on the university’s swim team. Before Apple, he began his career designing virtual reality headsets at Virtual Research Systems.
Ternus joined Apple’s product design team in 2001 and worked his way up to vice president of hardware engineering by 2013. Over the years, his fingerprints have been on some of Apple’s most loved products. He has led hardware engineering for the iPhone, iPad, Mac, Apple Watch, AirPods, and Apple Vision Pro. One of his biggest achievements was leading the Mac’s transition from Intel processors to Apple’s own M-series chips — a move that made Apple computers dramatically faster and more power-efficient.
Why is Tim Cook leaving now?
This is the first CEO transition at Apple since Cook himself replaced Steve Jobs back in 2011. Cook, now 65, is leaving behind a remarkable legacy. Apple’s market cap grew more than 20-fold under his watch, recently closing at $4 trillion. The transition was not a surprise — the board approved the change unanimously, describing it as part of a long-term succession planning process.
Apple global market
Apple Inc. products are becoming more popular around the world. In 2025, the company shipped about 248 million iPhones, and there are now around 1.56 billion iPhone users globally.
Apple ended 2025 as the world’s top smartphone brand with a 20% market share. It stayed ahead of Samsung at 19% and Xiaomi at 13%.
Apart from iPhones, Apple’s iPad was the most popular tablet worldwide, holding a 36% market share. The MacBook Air also saw its highest-ever sales in the US in early 2025. In India, iPhone sales grew by 18% compared to the previous year, making it Apple’s fastest-growing market.
