The Apple logo is seen at an Apple store in
The Apple logo is seen at an Apple store in the Barton Creek Square mall in Austin, Texas. Brandon Bell/Getty Images

John Ternus becomes Apple's chief executive on Tuesday, Sept. 1, closing out Tim Cook's nearly 15-year run at the top of the company, Apple said. The board approved the transition unanimously after a long-term succession planning process, according to the company. Cook moves to executive chairman and will continue engaging with policymakers on Apple's behalf. Apple's market value has grown more than twentyfold under Cook, closing at roughly $4 trillion this week, according to CNBC.

The handover was set in motion in April, when Apple's board appointed Ternus — senior vice president of hardware engineering since 2021 — to succeed Cook and join the board effective on the transition date, an April 20 filing with the Securities and Exchange Commission shows. Ternus emerged as the board's choice after Jeff Williams, Apple's longtime chief operating officer, stepped back from operational duties earlier this year, Bloomberg has reported. Arthur Levinson, Apple's longtime board chair, becomes lead independent director the same day.

Ternus, 50, inherits two bets he did not originate. On Sept. 9, he presides over his first product keynote as chief executive, where Apple is expected to introduce its first foldable iPhone — its first new form factor since the 2017 iPhone X — alongside the iPhone 18 Pro line.

The bigger wager landed earlier this year. In January, Apple and Google announced that Gemini would power a rebuilt Siri, a deal reported at roughly $1 billion annually. The companies said Google's technology offered the strongest foundation for Apple's own AI models. The rebuilt assistant, unveiled at Apple's June developer conference, marked Apple leaning on an outside company for the one piece of its software stack it had spent years trying to build in-house.

Neither wager originated with Ternus, but their outcomes will define his opening chapter as CEO.

Apple has not detailed further executive changes beyond the transition already announced. Wednesday's event is his first public test.