California [US], April 21 (ANI): Tim Cook will step down as Chief Executive Officer of Apple Inc. and take over as executive chairman of the company's board, with John Ternus set to become the new CEO from September 1, the company announced on Monday.

The decision was approved by Apple's Board of Directors as part of a long-planned leadership transition. Cook will continue as CEO through the summer and work closely with Ternus to ensure a smooth handover.

Currently serving as Senior Vice President of Hardware Engineering, Ternus has been a key figure in developing Apple's major products and will now take charge of leading the company.

After stepping into his new role as executive chairman, Cook will continue to support the company, including engaging with policymakers around the world.

In a community letter to the company, Cook wrote, 'For the past 15 years I've started just about every morning the same way. I open my email and I read notes I received the day before from Apple's users all over the world. You share little pieces of your lives with me and tell me things you want me to know about how Apple has touched you. About the moment your mom was saved by her Apple Watch. About the perfect selfie you captured at the summit of a mountain that seemed impossible to climb. You thank me for the ways Mac has changed what you can do at work and sometimes give me a hard time because something you care about isn't working like it should.'

'Today we announced that I'm taking the next staep in my journey at Apple. Over the coming months I will be transitioning into a new role, leaving the CEO job behind in September and becoming Apple's executive chairman. A new person will be stepping into what I know in my heart is the best job in the world. That leader is John Ternus, a brilliant engineer and thinker who has spent the past 25 years building the Apple products our users love so much, obsessed with every detail, focused on every possible way we can make something better, bolder, more beautiful, and more meaningful. He is the perfect person for the job,' the letter read.

Tim Cook joined Apple in 1998. He became CEO in 2011 and has overseen the introduction of numerous products and services, including new categories like Apple Watch, AirPods, and Apple Vision Pro, and services ranging from iCloud and Apple Pay to Apple TV and Apple Music. He was also instrumental in expanding existing product lines. (ANI)