Hardware chief John Ternus takes over

Apple named insider John Ternus ‌as its next CEO, tasking ​the long-time hardware chief ⁠to steer the company after Tim Cook, as the iPhone maker gears up ‌for an industry change spurred by artificial intelligence.

Mr. 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.

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

In naming Mr. Ternus chief executive, Apple is ⁠shifting from Mr. 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.