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