After stepping into the post in 2011, Tim Cook is officially stepping down as Apple's CEO this week. Cook will be replaced by Apple veteran John Ternus on Sept. 1, who has served as the company's SVP of hardware engineering since 2021 and oversees the design team.

Cook will remain at Apple in a new role, serving as executive chairman. The move was originally announced in April, following widespread speculation about his retirement. Ternus already had a high profile at the company, unveiling the MacBook Neo at its launch event in New York in March. In his goodbye letter, Cook called Ternus "a brilliant engineer and thinker," adding that he is "obsessed with every detail."

It's unknown what Ternus's reign could bring, but Apple commentators like Bloomberg's Mark Gurman have said Ternus "knows a major design shake-up is needed" at Apple, in contrast to Cook's "historically limited presence," citing sources within the company. Gurman has also reported that Cook is still expected to retain several key responsibilities, including maintaining relations with the White House.

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The change comes at a busy time for Apple. The company's next big event is set for Sept. 9, which could see the debut of the iPhone 18 Pro lineup, Apple's long-rumored foldable device, and a next-gen Apple Watch.