Apple is reportedly accelerating its CEO succession planning as Tim Cook, who has led the company since 2011, may step down as early as next year. The Financial Times, citing sources familiar with internal discussions, indicates that the company's board and senior executives have intensified preparations for the transition.
Cook, who turned 65 this month, took over after co-founder Steve Jobs' death and has since overseen a massive surge in Apple's market valuation, transforming it into a $4 trillion company. The potential departure is framed as part of a long-planned transition, not tied to the company’s current strong performance.
The most likely internal candidate to succeed Cook is John Ternus, Apple's Senior Vice President of Hardware Engineering. Ternus, who oversees product development for the iPhone, Mac, and iPad, has gained greater visibility in recent years.
The report suggests an announcement is unlikely before late January following the crucial holiday quarter earnings report. This timing would give the new leader ample time to settle in before major events like the annual developer conference (WWDC) in June and the next iPhone launch in September. Cook has previously stated his preference for an internal successor, emphasizing that Apple has "very detailed succession plans."
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