Apple CEO Tim Cook to Step Down by 2026: Report

Apple is reportedly accelerating its plans to prepare for a major transition at the helm, as Tim Cook is expected to step down from his CEO role next year. The world’s most valuable technology company is now ramping up the succession planning for the post-Cook era. 

According to the Financial Times, Apple's board members and senior executives have "intensified" their efforts to prepare for a future without Tim Cook as the company's CEO. The report notes that while "no final decisions have been made", Apple's Senior VP of Hardware Engineering, John Ternus, could "most likely" succeed Cook sometime next year. 

For the unaware, Ternus has been pivotal in overseeing the development of Apple's hardware portfolio, including the iPhone, iPad and Mac as well as the Apple Silicon M-series chipsets. At 50, Ternus mirrors Cook's age when the latter took the CEO role, and his hardware background would suggest a more product-driven leadership for the future. 

FT hasn't specified a reason for the leadership transition, but points out that people close to the discussion say it's not related to Apple's performance this year. Cook, who celebrated his 65th birthday this month, has held the top position for over 14 years after taking over the reins from Steve Jobs in 2011 and overseeing the company's most profitable era. 

The Cupertino company hasn't commented on the matter, and is not expected to do so before January 2026 when it releases its next earnings report. But if the leadership change is to happen, we could expect an official announcement early next year.

This should give the new CEO and the leadership team enough time to prepare for the annual developers conference in June 2026 and iPhone launch event in September 2026.