While Steve Jobs is often regarded as the most famous individual associated with Apple, Tim Cook would be second in the eyes of many, after serving as the company's CEO for the past 15 years, succeeding Jobs and helping the technology titan grow into one of the largest companies in the entire world.
After a very successful tenure as the top dog at Apple, Cook will soon be stepping down from the CEO position, instead moving over to become Apple's executive chairman and leaving space for a new CEO to take over.
As for who will be stepping up to the responsibility, John Ternus has been named as the new CEO for Apple, after formerly serving as the senior vice president of hardware engineering for the company.
The transition won't be made until September 1, meaning Cook will continue to lead throughout the rest of the spring and the summer, before Ternus takes over for the autumn and beyond.
In a press release, Apple describes this changing of the guard as the product of a "thoughtful, long-term succession planning process" and speaking about ending this phase of his career at Apple, Cook has shared the following statement.
"It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company. 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 even briefly commented on Ternus taking over, adding: "John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. 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, and I look forward to working closely with him on this transition and in my new role as executive chairman."
Ternus will become Apple's eighth CEO since its foundation in the 1970s.