Tim Cook has ended his fifteen-year tenure as Apple's CEO, officially handing over the reins to company veteran John Ternus, according to infohub.kz.
Following his departure, Cook will become executive chairman of the board. The company said he will "assist in certain aspects of the company's operations, including engagement with policymakers around the world." Cook succeeded Steve Jobs as CEO on August 24, 2011, after Jobs resigned due to illness.
The new CEO, John Patrick Ternus, has been with Apple since 2001. He rose from a regular engineer to a top executive and now oversees all hardware operations. It was announced earlier this year that a new CEO would be appointed, and later details emerged about the reasons behind the management shakeup.
Meanwhile, Apple users are eagerly awaiting the unveiling of the new iPhone, which the company plans to present next week on September 9.