Tim Cook is stepping down as Apple CEO after 15 years, handing over leadership to John Ternus just days before Apple’s September 9 event. Ternus will deliver his first keynote as chief executive, where the company is widely expected to unveil a new foldable iPhone alongside standard hardware updates.
Apple stands at a major leadership crossroads as Tim Cook steps down from the chief executive post, ending a 15-year tenure that transformed the tech giant’s global footprint.
The Transition from Operations to Engineering
Cook took over from Apple co-founder Steve Jobs in August 2011, earning renown as an operations specialist who built an increasingly sophisticated global supply chain. During his time at the helm, the company experienced staggering financial growth. Its market capitalization stood at roughly $350 billion (£256.75 billion) when Cook became CEO and has since climbed above $4.5 trillion (£3.32 trillion), though that figure fluctuates alongside the share price.
Rather than leaving the company entirely, Cook has transitioned into the role of executive chairman. In that capacity, he will engage with policymakers around the world, according to Apple statements. The leadership change itself was announced months prior following a thoughtful, long-term succession planning process, meaning the timing was not specifically arranged to land right before a product launch.
“Sending lots of love to the Apple community on my last day as CEO. My title changes tomorrow, but the love I have for the Apple community never will. Thank you for being a constant source of inspiration. My gratitude is endless, and I’m excited for the next chapter!”
Tim Cook, Executive Chair
John Ternus Steps Into the Spotlight
The new chief executive brings a distinctly different background to the office. Ternus joined Apple’s product design organization in 2001 and became senior vice president of Hardware Engineering in 2021. His career places a veteran product engineer at the top just as the company faces pressure to deliver artificial intelligence features and a fresh wave of devices.
Cook previously described Ternus as without question the right person to lead Apple into the future. Ternus will receive a base pay of $3 million for the 2027 fiscal year, while Cook receives $2 million. When stock packages are added, Ternus’ compensation could rise to $58 million for the upcoming year, compared to $47 million for Cook.
What to Expect at the September 9 Event
Industry attention now centers on Apple’s upcoming presentation, branded as the Surprise and Shine
event. Apple has scheduled the broadcast for 10 a.m. Pacific Time, where Ternus is expected to deliver his maiden keynote address.
While Apple has not officially published its complete line-up, reporting indicates the presentation will likely showcase the iPhone 18 Pro and Pro Max, Apple Watch Series 12, Apple Watch Ultra 4, and new AirPods. The centerpiece of the hardware roster, however, is widely anticipated to be a foldable device.
Entering the foldable market would place Apple alongside established competitors like Samsung, Google, Motorola, Huawei, Honor, and Xiaomi. The importance of the broader iPhone ecosystem to the company’s financial health remains immense. Apple’s entire iPhone category generated about $54.3 billion (£40.13 billion) in its latest reported quarter, against total company revenue of $109.4 billion (£80.85 billion).
Will Tim Cook Appear on Stage?
A lingering question for industry analysts has been whether the former CEO would make an appearance during the broadcast. Reports indicate that while Cook will be present in the audience, he will not be part of the video presentation itself.
“Apple has carefully orchestrated this transition to make Ternus the face of the foldable iPhone and all the new products to come. Putting Cook in the presentation would just undermine that. So, no, Cook will not be in the video. When it comes to product introductions, it’s the John Ternus era.”
Mark Gurman, Journalist via PCMag
