Tim Cook is stepping down after 15 years as Apple’s CEO

After nearly 15 years as Apple’s CEO, Tim Cook has decided to step down from his position. He will continue to serve in this position until September 1, when he will be replaced by John Ternos, the company’s senior vice president of hardware engineering.

Cook is not going away from Apple. He will move to Apple’s board of directors as CEO. The company announced Monday. But the transformation marks the end of an era for the company.

Cook became CEO on August 24, 2011, succeeding Apple co-founder and face of the company Steve Jobs, who passed away two months later. Cook was known for improving the company’s supply chain, and oversaw a period of record growth. During his 15-year tenure, the company improved its smartphone line from the iPhone 5 onwards, debuted new products like the Apple Watch and HomePod, and launched services like Apple Music, Apple TV Plus, and Apple Fitness Plus.

With Cook at the helm, Apple became a corporation Trillion dollar company In 2018 – the first American company to do so – and Exceeded $3 trillion In market value in 2022.

“I love Apple with all my being, and I am so grateful for the opportunity to work with a team of genius, innovative, and creative people who care deeply and who are unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world,” Cook said.

Ternos, who will replace Cook in September, has spent most of his career at Apple. An engineer, he joined the company in 2001, becoming vice president of hardware engineering in 2013 and senior vice president in 2021. He was “instrumental in the introduction” of the iPad and AirPods, according to an Apple post, and oversaw the company’s product lines until recently. MacBook Neo.

This is a developing story. Check back on CNET for more updates.