British-origin Ive who worked at Apple for almost 30 years has decided to form an independent design firm called LoveFrom and would treat Apple as its most prestigious client.
"Ive is a singular figure in the design world and his role in Apple's revival cannot be overstated, from 1998's groundbreaking iMac to the iPhone and the unprecedented ambition of Apple Park, where recently he has been putting so much of his energy and care," said Apple CEO Tim Cook.
Ive was one of Apple co-founder Steve Jobs' closest friends who considered him as a "spiritual partner".
"Apple will continue to benefit from his talents by working directly with him on exclusive projects, and through the ongoing work of the brilliant and passionate design team he has built," Cook added.
Apple design team leaders Evans Hankey, Vice President of Industrial Design, and Alan Dye, Vice President of Human Interface Design, will report to Jeff Williams, Apple's Chief Operating Officer.
Williams has led the development of Apple Watch since its inception and will spend more of his time working with the design team in their studio.
"After nearly 30 years and countless projects, I am most proud of the lasting work we have done to create a design team, process and culture at Apple that is without peer," said Ive.
He has been the key design figure behind products like original iMac, iPod, iPhone, iPad, Apple Watch, and Apple's new "spaceship campus".
"I have the utmost confidence in my designer colleagues at Apple, who remain my closest friends, and I look forward to working with them for many years to come," he added.
Ive's pronunciation of "aluminium," in more traditional British English form, became a viral meme.
( With inputs from IANS )