Tim Cook will hand over the role of Apple CEO to John Ternus, the company’s head of hardware engineering, after 15 years in the post. The transition takes effect on September 1, when Cook will remain with Apple as the executive chairman of the board.
Cook’s record: growth and operational focus
Tim Cook succeeded Steve Jobs in 2011 and brought a different leadership style to Apple, emphasizing supply‑chain management and operational efficiency. Under his tenure, annual revenue grew from $108 billion to $416 billion, and profit increased more than fourfold to $112 billion. Market capitalization rose from roughly $350 billion at the start of his tenure to more than $4,500 billion.
Cook also recognized that Apple could monetize its installed base of roughly 2.5 billion iPhone users beyond device sales, creating recurring revenue streams. As a result, the services business has at times outpaced hardware growth. New product categories introduced under Cook, such as the Apple Watch and AirPods, generated about $35 billion in revenue in the 2025 fiscal year.
Criticism and missteps
Observers have long accused the company of losing some of its innovative edge during Cook’s era. In 2024 Apple stopped its more-than-a-decade-long electric vehicle project, even as that segment saw explosive growth in China. The Vision Pro mixed‑reality headset, launched in 2023 at a $3,499 introductory price, did not meet expected sales, and a comprehensive overhaul of the Siri assistant has experienced significant delays.
Challenges for John Ternus: AI and supply‑chain diversification
The largest challenge facing the new CEO is artificial intelligence. Analysts say Ternus must demonstrate that AI within Apple’s ecosystem is more than just an iPhone app or an enhanced Siri. He will also need to continue diversifying manufacturing away from China — notably toward India and Vietnam — while preserving high profit margins.
Apple has already made concrete moves: by the end of 2026, most iPhones destined for the U.S. market are planned to be manufactured in India, and some products — such as AirPods and iPad — are being assembled in Vietnam.
Cook’s ongoing role
As executive chairman, Tim Cook will remain close to the company and take on a key role in relationships with policymakers, a responsibility that is especially relevant given the tense U.S.–China relationship which has direct implications for Apple’s business.
