00:00Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs,
00:08bringing to an end a 15-year tenure that saw the company's market value soar by more than 3.3
00:15trillion euros
00:16during an iPhone-fueled era of prosperity.
00:20The 65-year-old will turn the CEO duties over to Apple's head of hardware engineering, John Turnus,
00:28on September 1st, but he will remain in the company as executive chairman.
00:33To allow Cook to assume his new job, Arthur Levinson will relinquish his role as Apple's non-executive chairman
00:41while remaining on its board of directors.
00:45Turnus, 50, has been with Apple for the past quarter century,
00:49including the past five years overseeing the engineering underlying the iPhone, iPad and Mac.
00:56Cook joined Apple in 1998 and became CEO in 2011.
01:01The company said that the leadership transition was unanimously approved by its board of directors
01:07and followed a long-term succession planning process.
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