Tim Cook is to resign as Apple CEO, with head of hardware engineering John Ternus succeeding him on 1 September.

Cook, who succeeded Apple co-founder Steve Jobs in 2011, will stay on at the company in the role of executive chair.

The announcement was made on Apple’s website, where Cook said that his tenure as CEO had been the “greatest privilege of my life”.  

“I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative and deeply caring people,” he said.

Cook has been at Apple for 28 years, having joined in 1998 to oversee the company’s worldwide operations, including its global supply chain and manufacturing. He became chief operating officer in 2005, before succeeding Steve Jobs as CEO six years later.

During his 15-year tenure as CEO, Cook oversaw the introduction of numerous products and services, including new categories such as Apple Watch, AirPods and Apple Vision Pro, and services ranging from iCloud and Apple Pay to Apple TV and Apple Music. Under his leadership, the company’s market capitalisation grew from around $350bn to over $4tn today.

According to The New York Times, a succession plan for Cook has been in the works since at least last year. Apple has said that the appointment of Ternus as the new CEO was “approved unanimously” by Apple’s board of directors and follows a “thoughtful, long-term succession planning process”.

Ternus, who is currently the senior vice-president of hardware engineering, has been at Apple for 25 years, most of his career. A mechanical engineering graduate, he joined the company in 2001 as a member of the product design team working on hardware engineering. He rose through the ranks to become vice president of hardware engineering in 2013 and then head of the department in 2021.

During this time he oversaw the development and launch of Apple’s proprietary silicon chips for its Mac line of computers as well as the debut of the Apple Watch, the AirPods line of headphones and the Vision Pro headset.

Cook describes Ternus as having “the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour.” He describes him as being “without question the right person to lead Apple into the future”. 

Ternus, who refers to Cook as a mentor, says he is “profoundly grateful for the opportunity to carry Apple’s mission forward”. 

“I am humbled to step into this role, and I promise to lead with the values and vision that have come to define this special place for half a century,” he said.

While Cook believes he is the right person for the job, questions have been raised about whether a hardware-focused leadership approach is right for an increasingly AI-focused industry, where the company has been lagging behind some of its big tech peers.

Cook will continue as CEO through the summer. On 1 September, with Ternus installed as the new CEO, Cook will take up his new role as executive chairman, where he will, among other roles, engage with policymakers around the world.