Apple's Tim Cook steps down: John Ternus names as new CEO

It marks the end of an era for one of the world’s leading tech companies, as Tim Cook has announced he will step down as CEO of Apple effective September 1st. He will be succeeded by the company’s head of hardware engineering, John Ternus—a transition that many investors hope signals a renewed focus on innovation at the firm behind groundbreaking products like the Macintosh, iPod, and iPhone. While Cook’s tenure may have lacked major blockbuster launches, it has been far from unsuccessful, with significant growth in both profits and market value under his leadership. Bryan Quinn reports.