American business executive Tim Cook is stepping down as chief executive officer of Apple after nearly 15 years in the position, with longtime hardware executive John Ternus set to take over on September 1.

Cook’s final day as Apple CEO is Monday, August 31, ending a tenure that began in August 2011 following the death of Apple co-founder Steve Jobs.

Apple announced the leadership transition in April, saying the change had been approved unanimously by its board following a long-term succession planning process. Under the new arrangement, Cook will become executive chairman of Apple’s board of directors. He will remain involved with the company while Ternus assumes responsibility for its day-to-day leadership.

John Ternus, 50, has served as Apple’s senior vice president of Hardware Engineering since 2021 and joined the company in 2001. He has been involved in the development of several major Apple products, including the iPhone, iPad, Mac, Apple Watch, and AirPods.

British news agency Reuters reported that Ternus will take charge as Apple faces a rapidly changing technology landscape, particularly the growing importance of artificial intelligence.

His first major public appearance as CEO is expected to come on September 9, when Apple holds its next major product launch event. The company is expected to unveil its latest iPhone lineup at the event.