Apple on Monday announced that Chief Executive Officer (CEO) Tim Cook will step down in September, handing the job to company veteran John Ternus.

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

Ternus, who joined Apple in 2001, has recently overseen the company’s hardware engineering efforts and has played a key role in reigniting sales of products such as Apple’s Mac computers, which have gained market share in recent years.

Cook, who has led Apple since 2011, will become the company’s executive chairman, Apple said in a statement.

“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 in a release.

In naming Ternus chief executive, Apple is shifting from Cook, a supply chain guru who helped turn Apple into a global brand that churns out hundreds of millions of units per year, to a leader who has long focused on design and products.

Ben Bajarin, CEO of technology consulting firm Creative Strategies, said Ternus is well-liked within Apple “and will bring fresh energy.”

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