(CNN) — Tim Cook, the executive who led Apple to become a $4 trillion company and defined its identity in the post-Steve Jobs era, is stepping down as CEO, Apple said on Monday.

John Ternus, Apple’s senior vice president of hardware engineering, will take over as CEO effective September 1. Cook will become executive chairman of Apple’s board of directors and will remain as CEO through the summer to ensure a smooth transition, the company said.

“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said in a press release.

The news comes amid a string of changes to Apple’s executive ranks in late 2025, including the departures of its AI chief, policy head and one of its top design leaders.

Cook, who became Apple’s CEO in 2011 after serving as its chief operating officer, was responsible for pushing Apple beyond the handful of products the company was initially known for, such as the Mac, iPod and iPhone. Under Cook’s leadership, Apple became a significant player in new areas like entertainment, health and wearables.

He also guided the company through defining moments in world history that had a profound impact on the company, such as the COVID-19 pandemic and President Donald Trump’s tariff policies and trade war with China.

Cook’s mark on Apple

Steve Jobs introduced the iPhone, but it was Cook who turned it into a platform for launching other hit products, from the Apple Watch to AirPods and Apple TV+ – all of which are only successful because the iPhone is the world’s second-most popular smartphone.

Those bets have paid off. Apple’s services business is now the second-largest unit behind the iPhone, and Apple has frequently positioned the Apple Watch as being a life-saving device. The Apple Watch was the first new product category launched under Cook, who told CNBC in 2019 that he believed Apple’s biggest contribution to mankind would “be about health.”

In a letter on Apple’s website, Cook described how he’s started every day over the last 15 years reading emails from Apple users all over the world.

“You share little pieces of your lives with me and tell me things you want me to know about how Apple has touched you,” he wrote, adding that the new role is a transition and “not goodbye.”

But Apple’s more recent expansions into areas like virtual reality and artificial intelligence haven’t been as successful. Its expensive Vision Pro headset is still largely a niche product and has yet to achieve mainstream appeal like previous Apple products. The company delayed a major update to Siri this year that would have helped bring it up to speed with competitors like OpenAI’s ChatGPT and Google’s Gemini. Apple’s setbacks in AI have been a focal point throughout the year as analysts have grilled Cook on earnings calls about its AI strategy and whether the company is prepared for a future beyond the iPhone.

Cook will be remembered for more than Apple’s product launches. He steered the company’s relationship with Trump during both presidential terms, most recently pledging to invest $600 billion in expanding Apple’s US footprint after facing pressure from the president to manufacture iPhones domestically. Cook gifted Trump a plaque made of glass from one of the company’s US supply partners earlier this year.

He also navigated Apple through the COVID-19 pandemic, making swift decisions about how to manage the company’s retail stores and China-based supply chain. Apple was one of the first companies to close its global retail stores in the early days of the pandemic.

Apple’s next CEO

Ternus, a longtime Apple executive, was widely expected to succeed Cook as CEO. He started at Apple on the product design team in 2001 and climbed Apple’s ranks, first becoming the vice president of hardware engineering in 2013 and then taking the senior vice president job in 2021.

He played a major role in the development of products like the iPad and AirPods, according to Apple. He most recently led the introduction of the MacBook Neo, Apple’s first low-cost MacBook, last month.

“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,” Ternus said in a press release.

Ternus will take the helm during a pivotal year for Apple, which is expected to include a revamp of popular products like Siri and the iPhone. Apple will likely introduce the long-awaited Siri update during its Worldwide Developers Conference in June, which could help Apple catch up to OpenAI’s ChatGPT and Google’s Gemini. And Apple is reportedly planning to release the first foldable iPhone in September, according to Bloomberg.

“Cook leaves a lasting legacy in Cupertino,” Wedbush Securities analyst Dan Ives said in a research note. “And there will be a lot of pressure on Ternus to produce success out of the gates especially on the AI front.”

This story has been updated with additional context and developments.

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