Apple Replaces CEO, Appoints iPhone Engineer as New Boss

Apple has announced plans to replace CEO Tim Cook with John Ternus. After being moved from the CEO position, Cook will take a seat on the company’s board of directors starting 1 September 2026.

Ternus currently holds the position of Vice President of Hardware Engineering. Upon assuming the CEO role, Ternus will also become a member of Apple’s board of directors.

“Cook will continue in his role as CEO through this summer and work with Ternus to ensure a smooth transition,” Apple stated in a company press release.

Cook, now 65 years old, has held the position of CEO at Apple since 2011, succeeding Steve Jobs.

“This is the greatest opportunity of my life, to become CEO of Apple, and to be trusted to lead this extraordinary company. I love Apple with all my heart, and I am grateful for the chance to work with an innovative, creative, and caring team,” Cook said.

Under Cook’s leadership, Apple’s market capitalisation has skyrocketed more than 20 times. At Monday’s market close, the total value of Apple’s shares on the exchange surpassed US$4 trillion (Rp68,520 trillion). Last year, Cook received compensation of US$74.6 million (Rp1.2 trillion) from Apple, consisting of a salary of US$3 million and shares.

Forbes estimates Cook’s net worth at US$3 billion (Rp51.4 trillion).

According to CNBC International, Apple is now facing several challenges, including geopolitical tensions, increasingly complex global supply chains, exorbitant import tariffs from US President Donald Trump, and surging memory prices due to AI demand.

Ternus, now 50 years old, has been with Apple since 2001. His portfolio includes leading the engineering team that created the iPhone, iPad, Mac, Apple Watch, AirPods, and Vision Pro.