Tim Cook to become Apple Executive Chairman

Source: Hacker News

Announcement

CUPERTINO, CALIFORNIA — Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior vice president of Hardware Engineering, will become Apple’s next chief executive officer effective September 1, 2026. The transition, approved unanimously by the Board of Directors, follows a thoughtful, long‑term succession planning process.

Tim Cook’s Tenure at Apple

Tim Cook joined Apple in 1998. He became CEO in 2011 and has overseen the introduction of numerous products and services, including new categories like Apple Watch, AirPods, and Apple Vision Pro, and services ranging from iCloud and Apple Pay to Apple TV and Apple Music. He was also instrumental in expanding existing product lines.

Key Achievements

• Market capitalization grew from approximately $350 billion to $4 trillion (over 1,000 % increase).
• Yearly revenue rose from $108 billion in fiscal year 2011 to $416 billion in fiscal year 2025.
• Global presence expanded to more than 200 countries and territories.
• Retail footprint now includes over 500 stores, with the number of countries hosting Apple Stores more than doubled.
• Workforce increased by over 100,000 team members.
• Active installed base exceeded 2.5 billion devices.