Tim Cook to step down as Apple CEO, handing reins to firm’s hardware leader

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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 US$3.6 trillion during an iPhone-fuelled era of prosperity.Cook, 65, will turn the CEO duties over to Apple’s head of hardware engineering, John Ternus, on September 1 while remaining involved with the Cupertino, California, company as executive chairman.That is similar to the transitions made by Amazon’s Jeff Bezos and...