Apple is preparing for the possibility that CEO Tim Cook could step down as early as next year, according to a report from the Financial Times. The company’s board and senior leadership have intensified succession planning efforts, signaling that a transition may be approaching after more than a decade under Cook’s leadership.
Cook, who succeeded Steve Jobs in 2011, has led Apple through a period of substantial expansion, pushing the company past a $4 trillion market valuation. His tenure oversaw the launch of hardware products such as the Apple Watch, AirPods and Vision Pro, as well as services including Apple Arcade and Apple TV+. After 14 years in the role, Cook is reportedly assessing the right moment to hand over leadership.
Sources told the Financial Times that John Ternus, Apple’s senior vice president of engineering, is the leading candidate to replace Cook, though no final decision has been made. Ternus joined Apple in 2001, beginning in Product Design before moving into Hardware Engineering, where he played a central role in the company’s transition to Apple silicon. He has appeared increasingly in key product announcements, a visibility shift that analysts have interpreted as part of succession preparation.
The Financial Times report said Apple does not plan to disclose its next CEO before the company’s January earnings call. Even so, an announcement is expected earlier in the calendar year to allow for a smooth leadership handoff ahead of Apple’s major annual events. The company recently made another senior leadership adjustment when Sabih Khan was appointed chief operating officer, succeeding Jeff Williams.
Featured image credits: Pierre Lecourt via Flickr
For more stories like it, click the +Follow button at the top of this page to follow us.