Apple Inc. made a CEO transition announcement after Monday’s closing bell: Tim Cook will step down as CEO and transition to the role of executive chairman, while John Ternus — currently senior vice president of Hardware Engineering — will take over as CEO. Both changes take effect Sept. 1, 2026, following a unanimous board vote. Cook will remain CEO through the summer to ensure a smooth handoff. “It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lea