Tim Cook will step down as Apple's CEO on Tuesday, September 1. Ahead of this transition, Apple hosted a farewell party for him on August 23, just before his 15th anniversary as leader. Approximately 200 people gathered at the Caffé Macs cafeteria on the Apple campus, where band OneRepublic performed to celebrate.

Speakers included Laurene Powell Jobs, former COO Jeff Williams, services chief Eddy Cue, and incoming CEO John Ternus. Despite the celebration, Cook is not leaving the company. He will assume the role of executive chairman, focusing on engaging with policymakers globally while spending less time in the spotlight.

John Ternus has been with Apple since 2001 and serves as senior vice president of hardware engineering. The upcoming September iPhone event marks his first major product launch as CEO. Insiders emphasize continuity during the transition, noting that few operational changes are expected.

To ensure stability, Cook’s executive assistant will remain in place to support Ternus. This leadership shift maintains the current strategic direction while introducing new oversight from Cook in his honorary capacity.