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Tim Cook Steps Into Chairman's Role as Apple Hands CEO Reins to John Ternus

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Apple has completed a leadership change atop the company, with John Ternus stepping in as chief executive and Tim Cook moving into the role of executive chairman, according to The Hollywood Reporter. Ternus's new post carries an annual pay package valued at $58 million. Cook, staying on with the company in his new capacity, is set to receive $47 million as executive chairman.

With reporting from The Hollywood Reporter.

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