CUPERTINO, California — Apple confirmed on Monday that John Ternus, its senior vice president of hardware engineering, will become chief executive on September 1, succeeding Tim Cook after 15 years at the helm.

Ternus has led Apple's hardware engineering since 2021, overseeing the iPhone, iPad, Mac and the Apple Silicon chip transition. Cook, 65, will remain with the company in an advisory capacity and retain a board role, ensuring continuity during the handover.

The timing places Ternus in charge just over a week before Apple's scheduled September 9 product event, where the company is expected to unveil its next iPhone lineup and updated Apple Watch models. Morgan Stanley and Wedbush analysts had flagged the leadership change as imminent following weeks of speculation.

The succession marks the most significant executive shift at Apple since Cook replaced co-founder Steve Jobs in 2011. Investors will watch closely for how Ternus, an engineer by background rather than an operations specialist, positions the company on artificial intelligence, where Apple has trailed rivals Google and OpenAI.

"John is a brilliant engineer and a proven leader, and Apple's future is in exceptional hands," Cook said in the company's statement, adding that he would continue supporting the transition.