New Apple CEO: Tim Cook, CEO of Apple, one of the world’s largest tech companies, has decided to step down from his post. He handled this legacy from Steve Jobs for 15 years and his tenure is about to end. During Cook’s successful tenure, the company’s market value increased by more than $3.6 trillion thanks to the iPhone.
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Tim Cook, 65, will hand over the CEO post to Apple’s hardware engineering chief John Ternes on September 1, but will remain at the Cupertino, California-based company as executive chairman. This is similar to the changes made by Amazon’s Jeff Bezos and Netflix’s Reed Hastings after ending their successful CEO tenures.
To allow Cook to assume his new role, Arthur Levinson will step down as non-executive chairman of Apple, but will remain on the board of directors. “Becoming CEO of Apple and being trusted to lead such an extraordinary company has been the greatest privilege of my life,” Cook said in a statement.
“I love Apple with all my heart, and I am so grateful to have the opportunity to work with such a talented, innovative, creative, and deeply passionate team of people,” he said.
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