Tim Cook will step down as Apple chief executive officer (CEO) in September.
Apple said on the 20th (local time) that Cook will serve as chair of the board and Senior Vice President John Turnus will take office as CEO starting Sept. 1 this year. Apple's board unanimously approved the appointments.
Turnus, who has focused on product development at Apple for 25 years, has led hardware engineering since 2021. Turnus, 50 this year, is the same age Cook was when Cook became Apple CEO.
In a statement, Cook said, "It has been the greatest honor of my life to lead this special company as Apple CEO," and "I am truly grateful to have worked with a talented and innovative team dedicated to enriching customers' lives and creating the world's best products and services."
He went on to describe his successor, Turnus, as "a leader with the mind of an engineer, the spirit of an innovator, and a foundation of honesty and honor," noting that "he is clearly the right person to lead Apple's future."
Cook is credited with leading Apple after the death of founder Steve Jobs and helping grow the company into one of the world's largest corporations with a diverse portfolio that includes smartphones, tablets, healthcare, smartwatches, and audio. During his tenure, Apple's market capitalization increased by about 24 times.