Tim Cook, Apple’s chief executive, said today that he would step down later this year.

His nearly 15-year tenure as the head of the iPhone maker was one of the most successful management runs in American history. Annual profits quadrupled to more than $110 billion under his leadership.

Cook, 65, will become Apple’s executive chairman in September. He will be replaced by John Ternus, the 50-year-old head of hardware engineering. Ternus, who joined Apple in 2001 and oversaw the development of Macs and iPads, is known for his knowledge of Apple’s vast supply network and for being an even-tempered collaborator. Read more about Apple’s next leader.

U.S. and Iran prepare for another round of peace talks

As the U.S.-Iran cease-fire nears expiration, Vice President JD Vance is expected to travel to Pakistan tomorrow along with a team of American negotiators. Iranian officials also said that Mohammad Bagher Ghalibaf, the speaker of Iran’s Parliament, would attend a second round of peace talks if Vance showed up.

Those plans indicated that both the U.S. and Iran were still expecting to sit down this week and discuss potential diplomatic offramps, even after President Trump and Iranian leaders traded threats over the past few days.