Apple has announced a major leadership transition, with Tim Cook set to step down as chief executive in September after more than a decade at the helm. The 65-year-old will hand over to long-time company insider John Ternus, who will take charge of the $4 trillion tech giant on September 1.Cook, who succeeded Steve Jobs in 2011, will remain closely involved as executive chairman. In a statement, he described leading Apple as “the greatest privilege of my life”, marking the end of a tenure that saw the company’s valuation surge by more than $3.6 trillion.A defining era under CookCook’s leadership reshaped Apple into one of the world’s most valuable and operationally efficient companies. Having joined in 1998, he rose through the ranks by mastering the firm’s global supply chain and later took over as CEO during a period of uncertainty following Jobs’ resignation.Under his watch, Apple expanded its ecosystem beyond the iPhone, strengthening services and launching products such as AirPods and the Apple Watch. The company also became the first publicly traded firm to cross the $1 trillion valuation mark, eventually reaching $4 trillion.However, critics often pointed out that while Cook excelled at scaling and refining existing products, Apple did not produce a breakthrough innovation comparable to the iPhone during his tenure.Ternus steps in with product focusTernus, 50, brings a markedly different background. As Apple’s senior vice-president of hardware engineering, he has overseen the development of flagship products including the iPhone, Mac and newer devices such as the Vision Pro headset. Having spent 25 years at the company, he has been deeply involved in nearly every major product line.His appointment signals a potential shift in strategy, with Apple expected to lean more heavily into hardware innovation. The leadership change comes at a pivotal moment. Apple has faced criticism for lagging behind rivals in AI, even as competitors like Google and OpenAI push ahead rapidly. The company has already turned to external partnerships to bolster capabilities, including integrating advanced AI tools into its ecosystem.