Apple has announced a shakeup of its executive team, with hardware chief Dan Riccio taking on a new project.

Dan Riccio has been with Apple since 1998 as a leader on the Product Design team. From there he became vice president of iPad Hardware Engineering in 2010, and then executive team leader of Hardware Engineering in 2012. Riccio now moves on as a vice president of engineering. Most significantly, Apple says his new role will involving working on a new project and reporting directly to CEO Tim Cook.

In the meantime, John Ternus will take over Apple’s Hardware Engineering in place of Riccio.

“Every innovation Dan has helped Apple bring to life has made us a better and more innovative company, and we’re thrilled that he’ll continue to be part of the team,” said Tim Cook, Apple’s CEO. “John’s deep expertise and wide breadth of experience make him a bold and visionary leader of our Hardware Engineering teams. I want to congratulate them both on these exciting new steps, and I’m looking forward to many more innovations they’ll help bring to the world.”

“Working at Apple has been the opportunity of a lifetime, spent making the world’s best products with the most talented people you could imagine,” said Riccio. “After 23 years of leading our Product Design or Hardware Engineering teams — culminating with our biggest and most ambitious product year ever — it’s the right time for a change. Next up, I’m looking forward to doing what I love most — focusing all my time and energy at Apple on creating something new and wonderful that I couldn’t be more excited about.”

While Apple is not giving any hints about what project Riccio will be working on, one possibility is the Apple Car. The project is currently being led by Apple AI chief John Giannandrea, but it seems likely Riccio’s vast experience in hardware engineering would be an invaluable asset to the project. Alternatively, Riccio could be helming an entirely unrelated, yet to be revealed project.