Apple CEO Tim Cook will step down from his position on September 1, 2026, ending nearly 15 years at the helm of the company. The 65-year-old executive will hand over leadership to John Ternus, Apple’s head of hardware engineering. Cook described leading Apple as the greatest privilege of his life. Although stepping down as CEO, he will remain with the company as executive chairman, following a transition model similar to those of Jeff Bezos at Amazon and Reed Hastings at Netflix.

John Ternus, 50, has been with Apple for 25 years and has overseen engineering for the iPhone, iPad, and Mac over the past five years. His long tenure and technical leadership positioned him as the leading candidate to succeed Cook. Ternus expressed gratitude for the opportunity to advance Apple’s mission.

The leadership change comes as the global technology sector undergoes major transformation driven by artificial intelligence. Apple, which initially lagged in AI development, recently sought Google’s assistance to enhance Siri’s capabilities after delays in implementing new features.