Cook’s Countdown: Apple Reportedly Prepares for CEO Transition
Apple’s long-serving Chief Executive Officer Tim Cook may step down as early as next year, according to a report by The Financial Times. The company’s board of directors and senior executives have already intensified preparations for a leadership transition, Engadget reported.
Cook, who succeeded Steve Jobs in 2011, has led Apple for 14 consecutive years. Under his leadership, the company introduced several highly successful hardware products—including the Apple Watch, AirPods, and Vision Pro—while strengthening its services portfolio with platforms such as Apple Arcade and Apple TV+. During this period, Apple’s market valuation surpassed four trillion dollars.
According to the report, John Ternus, Apple’s Senior Vice President of Hardware Engineering, is the leading contender for the CEO position. Ternus, who joined Apple in 2001, began his career in the product design team and later held key roles in hardware engineering. He played a significant role in Apple’s transition to its own Silicon chip architecture.
The Financial Times notes that Apple is unlikely to announce its new CEO before releasing its January earnings report. However, a final decision may come early in the year to ensure a smooth leadership transition ahead of Apple’s major annual events. Earlier this year, Sabih Khan replaced Jeff Williams as the company’s Chief Operating Officer.
DBTech/BMT/OR
