Cook, 65, will move into the role of executive chair, Apple said in a news release on Monday, April 20. John Ternus, senior vice president of hardware engineering, will replace Cook as CEO on Tuesday, Sept. 1.
In 1998, Cook left Compaq to become Apple's senior vice president for worldwide operations. He rose through the tech giant's ranks before succeeding co-founder Steve Jobs as CEO in August 2011.
Cook called it "the greatest privilege" of his life to lead Apple, which became the first trillion-dollar company in 2018.
"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 who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world," Cook said in a statement.
As CEO, Cook oversaw the launch of many widely used devices like the Apple Watch, AirPods, and AirTags. He also led the company as it rolled out popular features like Apple Music, iCloud, Siri, and the Apple TV streaming service.
During his tenure, Cook faced criticism for focusing on services and maximizing profits over innovating new products. Ross Gerber, co-founder of investment firm Gerber Kawasaki, called for Cook to resign in late January, arguing he "hasn't done a thing really in years" and that Apple fell behind in the AI race.
Critics have also accused Cook of being among the tech CEOs who have tried to appease President Donald Trump in his second term. Cook was mocked by many for giving Trump a glass plaque with a 24-karat gold base as Apple sought exemptions from Trump's sweeping tariff policies.
Cook downplayed his relationship with Trump, claiming he's "not a political person."
"I focus on policy," he said on ABC's "Good Morning America" in March. "I'm very pleased that the President and the administration is accessible to talk about policy."
Cook will help Ternus transition into the chief executive role.
"John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor," said Cook. "He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character."
Ternus has spent nearly his entire career at Apple since graduating from the University of Pennsylvania. He joined the company's product design team in 2001, assisting with several generations of iPads, iPhones, and Mac computers.
The 50-year-old said he's ready to guide Apple in its next leadership era.
"I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us," said Ternus. "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."
Non-executive chair Arthur Levinson will become Apple's lead independent director at the start of September.
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