Announced today, Tim Cook is stepping down as Apple CEO, making way for the head of its hardware engineering team, John Ternus. Cook has been the head of Apple for 15 years already, taking over for Steve Jobs back in 2011.

Tim Cook will step down as the chief executive of Apple after nearly 15 years.

Yahoo Finance Tech Editor Dan Howley takes a look at Ternus's hardware accomplishments at Apple and explains what needs to happen in terms of innovation going forward.