Apple has intensified its internal planning for life after CEO Tim Cook, signalling that he could step away from the top post as early as next year. The Financial Times reported that Apple’s board and senior leadership are now giving renewed attention to the transition process. Cook has led the $4 trillion tech giant for more than 14 years.
Announcement Expected Only After January Earnings
Sources suggest Apple will not reveal a new CEO before its upcoming earnings report in late January, which includes holiday season results. A leadership announcement early next year would give the incoming CEO enough time to settle before major events like:
-
Apple’s annual spring keynote
-
The Worldwide Developers Conference (WWDC) in June
-
The iPhone launch expected in September
Who Could Replace Tim Cook?
John Ternus, Apple’s Senior Vice President of Hardware Engineering, is seen as the strongest contender for the role, though insiders told the Financial Times that no final decision has been made yet.
Apple has undergone notable leadership shifts this year:
-
Luca Maestri, Cook’s close adviser and CFO, stepped back earlier this year.
-
Jeff Williams, Apple’s Chief Operating Officer and a longtime Cook protégé, announced he would leave in July.
If Ternus takes over, Apple would get a leader with a hardware engineering background at a time when the company struggles to enter new product categories and keep up with competitors in artificial intelligence.
Tim Cook’s Legacy at Apple
Cook turned 65 this month. He became CEO in 2011 after Steve Jobs stepped down shortly before his death. Under Cook’s leadership, Apple’s market value jumped from $350 billion in 2011 to nearly $4 trillion today.
Apple’s stock is close to an all-time high thanks to strong results last month, though its 12% rise this year trails competitors like Alphabet, Nvidia, and Microsoft companies that have benefitted more from investor excitement around AI.
Cook has always favoured internal leadership for the company’s future. He previously said Apple has “very detailed succession plans.” On Dua Lipa’s podcast in November 2023, he also expressed how deeply connected he feels to the company, stating, “I love it there and I can’t envision my life without being there, so I’ll be there a while.”
Also Read: Why Are Pakistani Judges Resigning? Is Pakistan’s Justice System Under Threat After 27th
