Apple announced on Monday that Tim Cook will step down as the tech giant’s CEO and John Ternus, senior vice president of Hardware Engineering, will take over the role. Cook will become executive chairman of Apple’s board of directors.

Cook has been Apple’s CEO for nearly 15 years.

Apple announced Tim Cook will become executive chairman of Apple’s board of directors and John Ternus will become Apple’s next CEO.

Cook will move into the role of executive chairman of the board.