Tim Cook's Last Day as Apple CEO: From Jobs' heir to Apple's longest-reigning leader
After Jobs, Cook held the fort with exceptional growth across products, services, operations, and revenue targets. Starting September 1, John Ternus will be named Apple CEO.
- Aug 31, 2026,
- Updated Aug 31, 2026 8:00 AM IST
After 15 years of leading Apple, Tim Cook will be handing the fort to hardware chief John Ternus on September 1, 2026. Today, August 31, marks the last day for Cook as Apple CEO, bringing an end to one of the most consequential leadership in the company’s history. During his tenure, Cook transformed the company from a $350 billion smartphone maker into a $5 trillion technology and services giant.
Cook announced the transition earlier at Apple, and he pointed to three factors driving the decision:
- Apple’s strong recent performance.
- An “incredible” product roadmap.
- John Ternus's readiness for the takeover.
Must read: Apple’s growth under CEO Tim Cook: The journey from $350 billion to $5 trillion
Speaking to staff, Cook said he is healthy, that his energy remains high, and that he plans to stay active at Apple for a long time in his new capacity, with a focus on global relationships and policy engagement.
Tim Cook’s legacy in 15 years
After Jobs, Cook held the fort with exceptional growth across products, services, operations, and revenue targets. He not only introduced new product categories like Apple Watch, AirPods, and Vision Pro, but he also scaled services with platforms like Apple Music, TV+, iCloud+, Fitness+ and Arcade, with revenue reaching a record $109 billion in 2025.
The company's revenue grew from about $108 billion in 2011 to nearly $400 billion, while market capitalisation rose from roughly $350 billion to around $5 trillion. Therefore, Cook will be leaving behind a legacy he has built strategically.
Must read: How Tim Cook positioned India as the pillar of Apple’s long-term growth beyond the iPhone
However, Ternus will have to face several challenges as CEO, including memory chip shortages, component price hikes, AI pressure, and others, to keep Apple in a steady position.
What will be Cook's next chapter at Apple?
While Tim Cook will step down as Apple CEO, he is not entirely leaving the company. He will transition to the executive Chairman role, where he will continue to provide strategic guidance and support to incoming CEO John Ternus while helping ensure a smooth leadership transition. Therefore, we may continue to see Cook working behind the scenes, while Ternus makes all the crucial decisions for the company.
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After 15 years of leading Apple, Tim Cook will be handing the fort to hardware chief John Ternus on September 1, 2026. Today, August 31, marks the last day for Cook as Apple CEO, bringing an end to one of the most consequential leadership in the company’s history. During his tenure, Cook transformed the company from a $350 billion smartphone maker into a $5 trillion technology and services giant.
Cook announced the transition earlier at Apple, and he pointed to three factors driving the decision:
- Apple’s strong recent performance.
- An “incredible” product roadmap.
- John Ternus's readiness for the takeover.
Must read: Apple’s growth under CEO Tim Cook: The journey from $350 billion to $5 trillion
Speaking to staff, Cook said he is healthy, that his energy remains high, and that he plans to stay active at Apple for a long time in his new capacity, with a focus on global relationships and policy engagement.
Tim Cook’s legacy in 15 years
After Jobs, Cook held the fort with exceptional growth across products, services, operations, and revenue targets. He not only introduced new product categories like Apple Watch, AirPods, and Vision Pro, but he also scaled services with platforms like Apple Music, TV+, iCloud+, Fitness+ and Arcade, with revenue reaching a record $109 billion in 2025.
The company's revenue grew from about $108 billion in 2011 to nearly $400 billion, while market capitalisation rose from roughly $350 billion to around $5 trillion. Therefore, Cook will be leaving behind a legacy he has built strategically.
Must read: How Tim Cook positioned India as the pillar of Apple’s long-term growth beyond the iPhone
However, Ternus will have to face several challenges as CEO, including memory chip shortages, component price hikes, AI pressure, and others, to keep Apple in a steady position.
What will be Cook's next chapter at Apple?
While Tim Cook will step down as Apple CEO, he is not entirely leaving the company. He will transition to the executive Chairman role, where he will continue to provide strategic guidance and support to incoming CEO John Ternus while helping ensure a smooth leadership transition. Therefore, we may continue to see Cook working behind the scenes, while Ternus makes all the crucial decisions for the company.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine