APPLE HAS ANNOUNCED that Tim Cook will step down as the company’s CEO in September.

In a statement, the technology giant said its vice president of hardware engineering John Ternus will succeed Cook as chief executive.

Cook, who joined Apple in 1998 and took over as CEO shortly before the death of founder Steve Jobs in 2011, will take up the role of executive chairman.

“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.

“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 who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”

The announcement answers long-simmering questions about who would succeed the 65-year-old and comes as Apple strives to show it is not being left behind in the age of artificial intelligence.

The company has gotten off to a rough start in AI after stumbling in its efforts to deliver new features built on the technology, as promised nearly two years ago.

Cook is credited with expanding Apple’s product line and ramping up the company’s value to some $4tn based on the value of its shares.

John Ternus joined Apple’s product design team in 2001 and became a vice president of hardware engineering in 2013. He joined the executive team in 2021 as senior vice president of hardware engineering.

Throughout his 25-year tenure, he has overseen the engineering of its leading products such as the iPhone, iPad, Apple Watch and AirPods.

Cook said Ternus “has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor”, adding that he is “without question the right person to lead Apple into the future”.

Ternus said he was “profoundly grateful for this opportunity to carry Apple’s mission forward”.

“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,” he said.

“I am filled with optimism about what we can achieve in the years to come, and I am so happy to know that the most talented people on earth are here at Apple, determined to be part of something bigger than any one of us.”