Apple CEO Tim Cook could step down as early as next year, with the company‘s board intensifying preparations for a leadership transition. Reuters reported on November 18 that Apple’s board of directors and senior executives have “recently intensified preparations for Cook to hand over the reins.”
The leading candidate to succeed Cook is John Ternus, 50, Apple‘s Senior Vice President of Hardware Engineering. Ternus has led recent iPhone development and is the same age Cook was when he took over from Steve Jobs.
Fortune reported that Ternus has “emerged as a key decision-maker on product road maps, features and strategies.” Other potential successors include software chief Craig Federighi and marketing head Greg Joswiak.
Apple is experiencing its most extensive leadership transformation since Steve Jobs died in 2011. In the first week of December alone, AI chief John Giannandrea, interface design head Alan Dye, and general counsel Kate Adams announced their departures. Chief Operating Officer Jeff Williams, who served 27 years at Apple, announced his retirement in July.
Cook succeeded Steve Jobs in 2011 after a period of uncertainty surrounding Jobs’ health. Under his leadership, Apple entered its most profitable decade, expanding its market value by more than 1,800 percent and becoming the first U.S. company to reach a $1 trillion valuation in 2018.
Before becoming CEO, Cook served as Apple’s chief operating officer, where he revolutionized the company’s supply-chain model and global logistics operations.
While Steve Jobs was celebrated for introducing breakthrough products like the iPhone and MacBook Air, Cook is credited with transforming Apple into a services powerhouse. He launched Apple Pay, the Apple Watch, AirPods, and Apple Music, while overseeing the company’s entry into original entertainment through Apple TV Plus. His calm, methodical leadership style has made Apple one of the most stable and profitable companies in the world.
The Financial Times said Apple is unlikely to name a new CEO before its next earnings report in late January, but an early-year announcement would allow a new leadership team to settle in before WWDC in June and the iPhone event in September.
If Cook steps down, he could become Apple‘s next chairman, as current chairman Arthur Levinson, 75, has reached the company’s director age limit policy.
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