Tim Cook will step down as Apple’s CEO on September 1 after 15 years at the helm of the company. He will be succeeded by John Ternus, who has been leading the hardware division. Cook will remain at Apple as Executive Chairman of the Board of Directors.

Cook became CEO in August 2011, taking over from Steve Jobs. Under his leadership, Apple expanded its product lineup, launching devices and services such as Apple Watch, AirPods, HomePod, Vision Pro, as well as Apple Music and Apple TV. In recent years, Apple has reported record quarterly revenues and is entering a period of change with stable financial performance.

On his last day as CEO, Cook sent a memo to Apple employees reflecting on his 15-year tenure. He noted that the decision to step down was not easy and expressed gratitude to the team for their hard work. Cook emphasized the importance of corporate culture and Apple’s ability to create products with a wide-reaching impact. He also described his time leading Apple as a significant chapter in his life.

Cook clarified that he is not leaving the company entirely. As Executive Chairman, he will continue to be involved in certain aspects of Apple’s operations, including engagement with policymakers around the world.

Cook expressed confidence in Ternus, highlighting his understanding of the process of creating innovative products. Ternus has been with Apple for over 25 years and heads the hardware division. In his statement about the transition, Cook described Ternus as the right candidate to lead the company into the future.

For Ternus, this appointment marks a new chapter after a long career focused on Apple’s hardware products. He will take charge of a company that is very different from the one Cook inherited from Jobs: Apple now has a much larger global user base, a broader range of devices, a growing services business, and an increasing focus on artificial intelligence development.

Cook also addressed Apple’s wider audience on social media, noting that despite the change in his role, his connection to the company remains strong. He called the transition the beginning of a new chapter and expressed optimism about the future.

A new era is beginning for Apple. Ternus will become the company’s third CEO since 1997, following Jobs and Cook. His first major product event will take place eight days after he assumes the role: on September 9, Apple will hold its traditional September presentation, where the iPhone 18 Pro lineup is expected to be announced, and possibly the first foldable iPhone, rumored to be called the iPhone Ultra.