Tim Cook, who has served as CEO of Apple since 2011, announced his decision to step down from the position, effective September 1, 2026. He will transition to the role of executive chairman. Cook, who joined Apple in 1998, expressed gratitude for the opportunity to lead the company, stating it has been the 'greatest privilege of my life.' His successor, John Ternus, currently serves as the head of hardware engineering and has been with Apple for several years, overseeing the technology behind major products such as the iPhone, iPad, and Mac. Ternus expressed his gratitude for the opportunity to lead Apple, emphasizing his commitment to carrying the company's mission forward. This change in leadership follows a trend seen with other tech giants, where former CEOs transition to different roles within their companies.