Apple announced today that Tim Cook will leave the CEO role on September 1, 2026, after 15 years, transitioning to executive chairman; John Ternus, SVP of Hardware Engineering since 2021, will become CEO. Johny Srouji simultaneously steps into Ternus's former role as Chief Hardware Officer, and Arthur Levinson shifts from non-executive chairman to lead independent director. Ternus, 51, has spent nearly his entire career at Apple since 2001 and oversaw hardware engineering across iPhone, Mac, iPad, AirPods, and Vision Pro. He inherits a $4 trillion company but faces investor pressure over Apple's lag on generative AI and the long-delayed Siri overhaul.