Ap­ple CEO Tim Cook is step­ping down from the job that he in­her­it­ed from the late Steve Jobs, end­ing a near­ly 15-year reign that saw the com­pa­ny’s mar­ket val­ue soar by more than $3.6 tril­lion dur­ing an iPhone-fu­elled era of pros­per­i­ty.

Cook, 65, will turn the CEO du­ties over to Ap­ple’s head of hard­ware en­gi­neer­ing, John Ter­nus, on Sept. 1 while re­main­ing in­volved with the Cu­per­ti­no, Cal­i­for­nia, com­pa­ny as ex­ec­u­tive chair­man. That’s sim­i­lar to the tran­si­tions made by Ama­zon’s Jeff Be­zos and Net­flix’s Reed Hast­ings af­ter they end­ed their high­ly suc­cess­ful tenures as CEO.

“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,” Cook said in a state­ment. “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.”