Tim Cook, the CEO of Apple, has stepped down from the position, and the company's one of the most valuable employees, John Ternus, has been appointed as the new CEO.
The Benchmark Of Technology
Apple Inc. is one of the world's most influential technology companies, known for manufacturing products such as the iPhone, Mac, and iPad, and for providing services such as iCloud and Apple Music.
Though it has become one of the largest companies, it was founded in 1977 by Steve Jobs, Steve Wozniak, and Ronald Wayne in Steve Jobs' parents' garage.
Years later, Jobs and Wozniak are still being celebrated as the founders of the company. At the same time, Wayne is often referred to as a "forgotten founder" who sold his shares for only about $800, weeks after the company formed.
Steve Jobs provides the vision and leadership, focusing on user-friendly technology; Steve Wozniak is the genius engineer behind the creation of the Apple I and Apple II computers; and Ronald Wayne provided the administrative documentation, created the Apple logo, and wrote the manual for the Apple I computer.
In 1985, at the age of 30, Jobs was fired as CEO by the board of directors after a clash with then-CEO John Sculley. Jobs then founded NeXT, a computer company which produced high-end computers. Ultimately, he sold this company to Apple for $429 million, which eventually led the board of directors to hire him. They also fired then-CEO Gil Amelio and replaced him with Steve Jobs in July 1997.
Jobs' Resignation
In October 2003, Steve Jobs was diagnosed with cancer. He then announced this to his employees in mid-2004, stating that this was a less aggressive type of cancer.
And on August 24, 2011, he stated to the board regarding his resignation as a CEO that reads, "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know.
Unfortunately, that day has come." He also named Tim Cook as the next CEO to lead the company. Even after resigning, he continued to work for Apple until the day before his death. Jobs died on October 5, 2011, at the age of 56.
Tim Cook's New Chapter As Apple's CEO
Cook joined Apple in 1998 and was appointed CEO following Jobs's declining health in August 2011. Under his leadership, the company's capitalisation skyrocketed from $348 billion in August 2011 to $4 trillion in October 2025.
He launched a campaign in 2014 to make the world a better place through power-saving efforts and the refinement of supply chain environmental practices. With him as CEO, Apple saw tremendous profits, and he was even labelled the best leader.
Tim Cook's Resignation
On April 20, 2026, Apple announced on its official Apple Newsroom website that Apple CEO Tim Cook will step down from his position on September 1, 2026, and will assume a new role as Executive Chairman. John Ternus has been appointed as the new CEO to succeed Cook.
John Ternus, The New CEO of Apple
He first joined Apple in 2001 as a member of the product design team. In 2013, he became the Vice President of Hardware Engineering, overseeing the development of Mac, iPad, and AirPods. Later in 2021, he joined the executive team as a Senior Vice President of Hardware Engineering, reporting directly to Tim Cook, and in 2026, he was named the new CEO after Tim Cook.
The transition from Tim Cook to John Ternus marks a significant yet carefully managed moment by the company. Cook leaves behind a legacy that is financially stronger and more diversified than ever, and with Ternus stepping in as CEO, Apple seems poised to continue evolving, balancing its legacy and innovation.
