Tim Cook to step down as Apple CEO, John Ternus to take over

John Ternus, who has long focused ​on design and ‌products at Apple, will lead the iPhone maker as it gears up for an industry change spurred by artificial intelligence.

Apple announced on Monday that after more than a decade as chief executive, Tim Cook will step down in September.

Cook will hand leadership to company veteran John Ternus, currently Apple's senior vice president of hardware engineering, marking Apple's first CEO transition since the death of founder Steve Jobs.

"Having spent almost my entire career at Apple, I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor," Ternus said.

"It has been a privilege to help shape the products and experiences that have changed so much of how we interact with the world and with one another," he added.

What you need to know about Ternus
Cook to become Apple Executive Chairman
Cook, who has led Apple since 2011, will stay on as executive chairman.

The move comes as the company faces mounting pressure to prove it can keep pace in artificial intelligence.

Cook said leading Apple has been "the greatest privilege" of his life.

Separately, Johny Srouji, who ⁠has overseen Apple's ​custom chip and sensor designs, has been named chief hardware officer.