Apple just announced a major leadership change. The company confirmed on Monday that Tim Cook stepping down as chief executive will happen in September. He will hand the top job to company veteran John Ternus. Cook, 65, will become executive chairman instead. He has led Apple since 2011. That is 14 years at the helm. The announcement answers long-simmering succession questions. Apple also wants to show it is not falling behind in AI.

Ternus brings a different focus to the corner office. He joined Apple in 2001 and recently oversaw hardware engineering efforts. He played a key role in reigniting Mac sales. Those computers have gained market share in recent years. Cook transformed Apple into a supply chain giant that churns out hundreds of millions of units annually. Ternus shifts the emphasis toward design and products.

Industry analysts praised the transition. Ben Bajarin of Creative Strategies said Ternus is well-liked inside Apple. He will bring fresh energy to the role. Cook called his CEO tenure the greatest privilege of his life. He expressed gratitude for trusting him to lead such an extraordinary company. Tim Cook stepping down marks the end of a remarkable chapter. Separately, Apple named Johny Srouji as chief hardware officer. Srouji previously oversaw custom chip and sensor designs.

The transition happens in September. Apple fans and investors will watch closely. New leadership brings new directions. The AI race awaits.