Morning Business Report: Apple leadership change, labor resignation and market moves
A major leadership shift is coming to Apple, as longtime CEO Tim Cook prepares to step down on September 1.
(LILAMAX)- The 65-year-old will transition into the role of executive chairman, while John Ternus, currently head of hardware, will take over as CEO. Cook has led Apple through a period of massive growth, with the company’s market value rising from about $350 billion in 2011 to roughly $4 trillion today. In his new role, Cook is expected to focus on…