John Ternus will be CEO of Apple when Tim Cook steps down this fall

Apple said Tim Cook will step down as CEO on September 1 and become executive chairman after a board-approved handoff completed over the summer.

John Ternus, Apple’s hardware engineering chief, will take over as the new CEO, marking a major leadership transition for the company.

The move ends Cook’s 15-year run leading Apple’s post-Jobs era and signals a new chapter for the company’s product and hardware strategy.