Apple’s Billionaire CEO Tim Cook Replaced in Shock Swap

LUDOVIC MARIN / AFP via Getty Images Apple announced on Monday that Tim Cook is being replaced as the company’s CEO. Cook, who succeeded Steve Jobs in 2011, will assume the role of executive chairman, effective September 1. The 65-year-old tech exec will be succeeded by John Ternus, the company’s senior vice president of hardware engineering. Read more at The Daily Beast.

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