Successor is in place Apple boss Tim Cook steps down
Tim Cook turned Apple into a money-making machine after the death of co-founder Steve Jobs in 2011. His successor will now have to master upheavals caused by artificial intelligence, among other things.
21.04.2026, 04:24
21.04.2026, 06:38
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- Tim Cook will step down as CEO of Apple and hand over the reins to the iPhone manufacturer's head of hardware on September 1.
- This marks the end of his almost 15-year tenure after Cook took over from co-founder Steve Jobs, who died in 2011.
- During this time, the market value of the Silicon Valley company rose by more than 3.6 trillion dollars during a period of success driven by the iPhone.
Apple gets a new boss after 15 years: John Ternus, who was previously responsible for hardware, moves to the top. His predecessor Tim Cook, who took over from legendary co-founder Steve Jobs in 2011, will become Chairman of the Board of Directors. The change is to take place on September 1.
The 50-year-old Ternus has been considered a likely successor to Cook for some time, but there has been varying information about the timing of the change. A few months ago, there were already reports that Cook wanted to step down soon. The timetable means that Ternus, as Apple CEO, is likely to present a foldable iPhone developed under his direction in September, which has been the subject of speculation for months.
AI Future
The decision in favor of Ternus is also a strategic decision on the executive floor. Cook was brought on board by Jobs at the end of the 1990s as a supply chain expert and was seen as someone who ensured the smooth functioning of the mega corporation. Ternus is a technology specialist who was deeply involved in the development of various Apple devices.
The appointment of Ternus - and not software boss Craig Federighi - signals that Apple wants to remain true to its technology roots even in the dawning AI era. Rivals such as Google and Samsung are constantly advertising new AI functions for their smartphones. Apple has so far struggled to bring a better version of its voice assistant Siri with artificial intelligence to the market, as announced in 2024. However, this does not seem to bother customers: Apple toppled long-time smartphone market leader Samsung from the throne with the iPhone last year.
The fact that Cook was prepared to hand over the reins in this situation shows that he believes Apple has the AI problems under control, said industry analyst Dan Ives on the business channel CNBC. Especially as there are increasing calls on the stock market to present an AI strategy.
Apple soars under Cook
Under Cook's leadership, the technology company from Cupertino in Silicon Valley entered the business with computer watches and data glasses, among other things, and earned more and more money with devices such as iPhones and Mac computers. At the same time, he pulled the plug on Apple's electric car project after investing billions.
The growth of Apple's business under Cook was enormous. In the 2011 financial year, in which he took over as CEO just a few weeks before Jobs' death from cancer, Apple made a profit of almost 26 billion dollars on a turnover of over 108 billion dollars. In the last financial year, the company made a profit of 112 billion dollars on revenues of around 416 billion dollars. Apple is worth more than four trillion dollars on the stock market.
Ternus will be met with "some skepticism" as he will be following in the footsteps of one of the best CEOs of our time, predicted Ives. At the same time, he recalled the doubts that once existed about Cook: he was neither an innovator nor a cult figure like Jobs - "but he did a fantastic job of growing the business".
Apple's Trump whisperer
Most recently, it fell to the 65-year-old Cook to cultivate contacts with US President Donald Trump. Among other things, there was a joint appearance in which Cook presented the US President with a glass plaque with a gold stand. There was some criticism of this among Apple's often liberal-minded fans - and also in parts of the workforce.
However, Trump's second term in office in particular - with some seemingly erratic decisions on import tariffs and exemptions - showed how essential a friendly relationship with the White House and the President is for a US company. Among other things, Cook succeeded in silencing initial calls for rapid iPhone production in the USA. It looks like Cook will continue to relieve Ternus of his delicate dealings with the White House: He will interact with politicians around the world, Apple announced.
"Candidate of continuity"
With Ternus, Apple once again opted for a successor from its own ranks. Under his leadership, Apple has managed to build ultra-compact technology such as the AirPods earphones and integrate more computing power into devices in recent years. He is a "candidate of continuity", said technology analyst Patrick Moorhead. Apple shares reacted to the announcement with a wafer-thin drop of 0.5 percent in after-hours trading.
Ternus' successor as head of hardware will be Johny Srouji, who was previously in charge of chip development. Thanks to the development of its own semiconductors, Apple was able to ban Intel chips from its Mac computers. The Macs were given longer battery life with their own chips and were able to run on a common platform with the iPhones. The fact that the new job title of Chief Hardware Officer has been created for Srouji probably indicates that he will retain his previous responsibility for chip development, while he will now also be responsible for other aspects of device technology.
