April 21, 2026, 12:28 pm | Read time: 4 minutes
A leadership change is underway at Apple. John Ternus, who previously oversaw the hardware business, is taking over as the company’s leader. Tim Cook is stepping down as CEO and will instead become chairman of the board.
Cook has led Apple since 2011, after taking over from co-founder Steve Jobs. Ternus has been considered a potential successor for some time. There have been various reports about the timing of the transition in recent months. According to the now-known schedule, Ternus could introduce a foldable iPhone, which has been the subject of speculation for months, developed under his leadership as early as September 2026.
Focus on the AI Era
By choosing Ternus, Apple is also signaling its commitment to the era of artificial intelligence. Cook was brought into the company by Jobs in the late ’90s as a supply chain expert. He was known for ensuring stable operations in a massive corporation. In contrast, Ternus comes from a technical background and was closely involved in the development of various devices.
Apple’s choice of Ternus over software chief Craig Federighi suggests that the company intends to maintain a strong hardware focus in the AI era. While competitors like Google and Samsung have been promoting new AI features in their smartphones for some time, Apple has struggled to bring a much-anticipated, improved Siri with artificial intelligence—which was announced back in 2024—to market.
Market and Analysts Are Watching Closely
Despite these challenges, demand does not appear to have plummeted. In 2025, Apple displaced longtime smartphone market leader Samsung from the top spot with the iPhone. Industry analyst Dan Ives told the business channel CNBC that the leadership change indicates Cook believes he has the open AI issues under control. He also noted that the stock market is increasingly demanding a clear AI strategy.
Ives also expects Ternus to face initial headwinds. He will encounter “some skepticism” because he is following one of the best corporate leaders of our time. At the same time, the analyst recalled that Cook was once viewed critically. He was neither a cult figure like Jobs nor perceived as a great innovator, “but he did a fantastic job growing the business.”
Apple’s Growth Under Cook
During Cook’s tenure at the helm, Apple expanded its business further. The company ventured into areas such as smartwatches and augmented reality glasses. At the same time, Apple generated increasing revenue from iPhones and Mac computers. The company discontinued its electric car project after investing billions.
The numbers clearly show how much Apple grew economically during this time. In the 2011 fiscal year, when Cook took over a few weeks before Jobs’ death from cancer, the profit was just under $26 billion, and revenue was over $108 billion. In the past fiscal year, the profit was $112 billion with revenues of around $416 billion. The company’s market value is over $4 trillion.
Apple’s Top Employees Are Leaving
How Apple CEO Tim Cook Envisions His Succession
Cook Remains Important for Politics
Cook’s responsibilities recently included maintaining contact with U.S. President Donald Trump. During a joint event, he presented the president with a glass plaque with a golden stand. This drew criticism from liberal-minded Apple fans and some employees. At the same time, Trump’s second term, with its sometimes erratic decisions on import tariffs and exceptions, highlighted the importance of good connections to the White House for a U.S. company. Cook managed to quiet early demands for rapid iPhone production in the U.S. According to the company, he will continue to handle relations with politicians worldwide. This role will not be passed on to Ternus.
Also of interest: Apple’s Greatest Successes–and the Most Spectacular Flops in the Company’s History
The Hardware Leadership Is Also Being Replaced
With Ternus, Apple once again chooses a successor from within the company. Under his leadership in recent years, ultra-compact devices like the AirPods were developed, and Apple increased computing power in its products. Technology analyst Patrick Moorhead described him as a “candidate of continuity.” The Apple stock reacted with a 0.5 percent drop in after-hours trading to the news.
Under Ternus, an important position will also be newly filled: Johny Srouji will take over the hardware division as his successor. He previously led chip development. Apple’s own semiconductors helped displace Intel chips from Mac computers, resulting in longer battery life and a unified platform with iPhones. For Srouji, the new title of Chief Hardware Officer was created, indicating that he will retain his previous responsibility for chip development while also taking on additional areas of device technology.