Apple's Tim Cook May Step Down Sooner Than Expected: New CEO Might Be...
Apple is quietly preparing for life after Tim Cook, with insiders hinting at a major shift. But the final choice remains under wraps.
- Apple board discusses potential successor to CEO Tim Cook.
- John Ternus, hardware engineering lead, is top contender.
- Succession plan is not linked to company performance.
Apple is getting ready for a big change. The company has started planning for the day when Tim Cook steps down as CEO, which could happen as soon as next year. As reported by Financial Times, people aware of the discussions inside Apple say that the board and top leaders are now talking more seriously about who should take over.
Right now, John Ternus, who leads Apple’s hardware engineering team, is seen as the most likely next CEO. Nothing is final yet, but Apple wants to be prepared before making any public announcement.
Why Is Apple Preparing For A New Leader?
People familiar with Apple’s plans say that this change has nothing to do with Apple’s performance. In fact, Apple is expecting very strong sales at the end of the year, especially for the iPhone.
Apple did not comment publicly, but the company is not expected to name a new CEO before its next earnings report in late January.
If Apple makes an announcement early next year, the new leader would get enough time to adjust before Apple’s biggest yearly events, the developer conference in June and the iPhone launch in September. However, even though the planning has increased, the final timing could still change.
Tim Cook, who turned 65 this month, has been Apple’s CEO since 2011. He took over after co-founder Steve Jobs passed away. Under Cook, Apple’s value jumped from about $350 billion to $4 trillion.
Apple’s stock is near an all-time high, although it has not grown as fast as companies like Alphabet, Nvidia, and Microsoft, which benefited from excitement around artificial intelligence.
Why John Ternus Is The Next Best Choice?
John Ternus is widely seen as the strongest candidate to replace Cook. People inside Apple say he is respected, experienced, and deeply involved in hardware products.
Choosing him would put a hardware-focused leader back in charge during a time when Apple is struggling to enter new product areas and is trying to catch up with other tech companies in AI.
Apple has also seen several top-level changes this year. CFO Luca Maestri stepped back from his role, and COO Jeff Williams also announced he would leave.
Cook has said he wants an internal person to be the next CEO and that Apple already has detailed plans for the future.
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