Apple announced on Monday the appointment of John Ternus as its new CEO

Apple announced on Monday the appointment of John Ternus, a veteran hardware chief, as its next CEO. Thus turning to another internal executive to lead the iPhone maker following Tim Cook’s departure, in a world radically transformed by artificial intelligence—a technology in which Apple has fallen behind.

Cook, a supply chain genius who boosted Apple’s market value by $3.6 trillion during his 15 years at the helm. Will remain executive chairman when Ternus takes office on September 1, Apple said in a statement.

Ternus, who joined Apple in 2001, played a key role in the resurgence of products like the Mac, which gained market share against PCs. Although he maintained a low public profile, he was actively involved in the development of Apple’s most important products, such as the iPads and AirPods.

In a world drastically changed by artificial intelligence—a technology Apple has lagged behind—Apple announced on Monday that it has appointed veteran hardware chief John Ternus as its next CEO. Appointing another internal executive to lead the iPhone manufacturer after Tim Cook’s departure.

According to a statement from Apple, Cook, a supply chain guru who increased Apple’s market value by $3.6 trillion over his 15 years in charge. Will continue to serve as executive chairman until Ternus takes over on September 1.

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