The rumors were true: Tim Cook is stepping down as CEO of Apple and taking over will be Vice President of Hardware Engineering John Ternus. Cook will remain at Apple as executive chairman of Apple’s board of directors, according to a press release. Ternus will assume the CEO role on Sept. 1.
Cook officially took over as CEO of Apple in August 2011 after Steve Jobs named him to the position before passing away that fall. He was previously chief operating officer at Apple tasked with overhauling the company’s supply chain to transform it into the global gadget behemoth that it is today.
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Source: Gizmodo