Apple CEO Tim Cook signals possible retirement in 2026
What's the story
Apple's CEO Tim Cook has reportedly told senior leaders at the company that he plans to step down from his role. The news comes just ahead of Apple's upcoming shareholders' meeting on February 24, 2026. Since taking over as CEO in 2011, Cook has transformed Apple's valuation from $350 billion to over $4 trillion. He is likely to continue with the company in a new role as Chairman of the board.
Succession planning
Potential successors for Cook's position
Apple's senior executives have been preparing for a future without Cook. One of the leading candidates to lead the company is John Ternus, Apple's head of hardware engineering. Ternus joined Apple in 2001. At 50 years old, he shares several traits with Cook such as a collaborative approach and extensive knowledge of Apple's supply chain.
Broader candidates
Apple's succession planning involves a wider group
Along with Ternus, Apple's succession planning also includes other senior executives. These include Craig Federighi (head of software), Eddy Cue (head of services), Greg Joswaik (head of worldwide marketing), and Deirdre O'Brien (retail lead). The discussions continue to revolve around whether Apple would benefit more from a steady manager like Cook or a risk-taker in the mold of co-founder Steve Jobs.