Tanzania, April 21 -- Cupertino. John Ternus has been named chief executive of Apple, succeeding Tim Cook from September 1, as the iPhone maker prepares for a new chapter after nearly 15 years under Cook's leadership.

Apple said Ternus, 50, currently senior vice president of hardware engineering, will take over day-to-day leadership of the company, while Cook transitions to the role of executive chairman, where he is expected to continue engaging with global policymakers and supporting strategic direction.

Cook, who became CEO in 2011 following the tenure of co-founder Steve Jobs, described leading Apple as the "greatest privilege" of his life. Over the past decade and a half, he has overseen a period of sustained growth, expanding Appl...