Apple AAPL.O on Monday named insider John Ternus as its next CEO, tasking the longtime hardware chief with steering the company after Tim Cook as the iPhone maker prepares for industrywide shifts driven by artificial intelligence.

The leadership change marks the end of an era at one of the world's most iconic companies, just as rivals bet on products that use AI to loosen Apple's grip on the consumer electronics market.

Here are some key facts about Ternus:

LONGTIME VETERAN

Ternus joined Apple's product design team in 2001 and became a vice president of hardware engineering in 2013.

He joined the firm's executive team in 2021, when he took on his current role of senior vice president of hardware engineering, reporting to Cook.

HARDWARE ENGINEERING BETS

Ternus has overseen some of Apple's most consequential hardware bets in recent years, including the teams behind the iPhone, iPad, Mac, Apple Watch and AirPods.

He has played a key role in reigniting sales of products such as Apple's Mac computers, which have gained market share in recent years.

IPHONE REVAMP

Ternus most recently showed the company's iPhone Air last fall, the biggest revamp of the iPhone since 2017.

APPLE HANDS REINS TO TERNUS

Ternus will take over as Apple CEO on September 1, succeeding Cook - who has led Apple since 2011 and will become the company's executive chairman.

Ternus, 50, is the same age as Cook when he took over the reins as CEO from co-founder Steve Jobs in 2011.

He will also join Apple's board effective September 1.

EARLY CAREER

Before Apple, Ternus worked as a mechanical engineer at Virtual Research Systems. He holds a bachelor's degree in Mechanical Engineering from the University of Pennsylvania.

-Arasu Kannagi Basil and Padmanabhan Ananthan in Bengaluru; Editing by Pooja Desai/Reuters