Apple’s CEO transition begins: iPhone-maker holds farewell for Tim Cook ahead of John Ternus’ takeover

Tim Cook, Apple’s Chief Executive for over 15 years, will be stepping down by the end of August, and John Ternus, the company’s engineering and hardware head, will be taking over Cook’s role, starting September 1. Just a week before his step-down, Apple hosted a farewell on August 23, 2026, and also celebrated his 15th anniversary as CEO at the company’s campus, as per The Information report.

Reportedly, around 200 Apple employees and guests gathered at the Caffè Macs cafeteria to celebrate Cook. The band OneRepublic also performed at the event, and several prominent Apple figures, including Laurene Powell Jobs, Steve Jobs’ wife, Jeff Williams, Apple’s former COO, Eddy Cue, Apple’s services chief, and Ternus, paid tribute and gave speeches praising Cook's tenure.

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Cook also shared his remarks at the farewell event and acknowledged his partner, Mike. According to someone familiar with the event, this was notable because Cook rarely talks about his personal life publicly.

The event marked the end of Cook’s tenure and the beginning of the transition to Ternus. While Cook is stepping down as Apple CEO, he is not leaving Apple entirely. He will become Apple’s executive chairman starting September 1 to work with governments and policymakers around the world. In addition, Cook’s executive assistant will also remain at Apple and will continue working for Ternus, suggesting that Apple wants to preserve existing structures and routines.

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Amid the transition, Apple is set to launch new products in September, including iPhone 18 Pro models and the company's first foldable device, the iPhone Ultra. It suggests that Ternus will take the stage at the Apple event to announce these products. Alongside these products, Apple will also roll out iOS 27 update with revamped Siri and other AI features.