(Image credit: Apple) Apple CEO Tim Cook is stepping down from the top job to serve as executive chairman of the company's board of directors. He will be replaced by current senior vice president of hardware engineering, John Ternus, the company announced in a press release. Cook will serve as CEO until Ternus takes the top job on September 1. The company notes that as executive chairman, Cook will continue to engage with "policymakers around the world," likely leaving him in charge of relationships with the Trump administration, China, India, and other areas where Apple has manufacturing and political interests. Cook, 65, originally joined Apple in 1998 from Compaq. He was handpicked by Steve Jobs to become CEO in 2011, and became known for turning Apple's supply chain operation into a well-oiled international machine.…