Apple taps John Ternus as CEO to replace Tim Cook, who will become chairman

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said on Monday that John Ternus is succeeding Tim Cook as CEO, with Cook assuming the role of executive chairman on Sept. 1.

Ternus, a senior vice president of hardware engineering, will join Apple’s board of directors when he becomes chief. Apple’s non-executive chairman Arthur Levinson will become the iPhone-maker’s lead independent director on that date.

“Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition,” Apple said in a press release.

It’s the first CEO transition for Apple since Cook, now 65, succeeded Steve Jobs at the helm in 2011, shortly before Jobs’ death. Ternus will become Apple’s eighth CEO.