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John Ternus will take over running the technology giant as Cook steps up to become executive chairman.
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;Resize=(620)) Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company's market value soar by more than $3.6 trillion US during an iPhone-fuelled era of prosperity.
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Apple said on Monday that John Ternus is succeeding Tim Cook as CEO, with Cook assuming the role of executive chairman on Sept. 1.
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John Ternus, a low-profile but influential executive at Apple, could be next in line to replace the company's longtime chief executive, Tim Cook, if he steps aside.
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