Apple has announced a major leadership change as Tim Cook prepares to step down as chief executive officer after nearly 15 years in charge. The company confirmed that John Ternus, its head of hardware engineering, will become the new CEO on 1 September. Cook will remain at Apple as executive chair, ensuring a continued role in the company’s top leadership structure. Tim Cook, who is 65, took over Apple in 2011 after the death of co-founder Steve Jobs. His leadership has been defined by strong operational control and global expansion. He is widely known for improving Apple’s supply chain and managing large-scale production across international markets. While he is respected for business execution, he has often been seen as less of a product visionary compared to Jobs. In a public statement, Cook described his time as CEO as the most important role of his life. He said he deeply loves Apple and is proud of leading the company. His exit from the CEO position marks the end of a long era that saw Apple grow into one of the most valuable companies in the world. Under Cook’s leadership, Apple expanded its global dominance, especially through the iPhone. The company has consistently reported strong financial performance. Earlier this year, Apple recorded its best-ever quarter for iPhone sales. Demand from key markets, including China, played a major role in that growth. Apple’s annual profits have now crossed $100 billion. Its market value has also grown dramatically. At the start of Cook’s tenure, Apple was valued at around $350 billion. Today, its market capitalization has reached more than $4 trillion. This makes it one of the most valuable companies in global history. During his time as CEO, Cook also led the launch of several major products. These include the Apple Watch and AirPods. He also expanded Apple’s services business with products like Apple Music and Apple TV+. These services helped Apple reduce reliance on hardware sales alone. John Ternus, who will take over as CEO, is 50 years old. He has been with Apple since 2001. He currently leads hardware engineering, one of the company’s most important divisions. Ternus played a key role in developing several major Apple products, including wearable devices and audio hardware. Apple described Ternus as a long-time internal leader with deep engineering experience. Cook praised him as someone with both technical skill and innovation mindset. Ternus said he feels honored to take on the role. He also said he will continue Apple’s long-standing values and vision. Reports suggest Apple had been preparing for a leadership change for some time. Planning for Cook’s succession reportedly began at least a year ago. The transition is being seen as carefully managed to ensure stability. Cook will remain involved in Apple’s global affairs. His new role will include engagement with policymakers worldwide. He has previously played a key role in discussions with governments, including the United States and China. His experience in political and trade negotiations has been considered an important asset for Apple. Despite its financial strength, Apple faces growing challenges. One of the biggest concerns is artificial intelligence. Investors have questioned Apple’s pace in the AI race. Competitors have moved faster in developing advanced AI tools and platforms. Apple has taken a more cautious approach. It has often integrated third-party AI services into its products instead of building fully in-house systems. This strategy has raised questions about long-term competitiveness in the AI sector. Some of Apple’s newer products have also struggled to gain strong market demand. The Vision Pro headset, for example, has not achieved the expected consumer success. However, the company’s core businesses remain strong, especially iPhones and Mac computers. The leadership change comes at a critical moment for Apple. The company must balance its strong hardware business with the need for future innovation. AI development is now a central focus for the entire tech industry. John Ternus will inherit a company that is highly profitable but also under pressure to evolve. His leadership will be closely watched by investors, competitors, and consumers. The transition marks the beginning of a new chapter for Apple as it enters a rapidly changing technology landscape.