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Apple names John Ternus as CEO effective September 1

Apple says longtime hardware chief John Ternus will replace Tim Cook as CEO on September 1, marking the company’s first new CEO era in 15 years.

AAPL

Apple NASDAQ:AAPL has entered its first new CEO era in 15 years, with longtime hardware chief John Ternus replacing Tim Cook on September 1.

Cook's farewell memo closed one of corporate America's most successful leadership runs, but investors are already looking beyond the handoff toward Ternus's b…