Apple is reportedly intensifying its CEO succession planning, with a new report from The Financial Times suggesting that current chief executive Tim Cook could step down as early as next year.
The company's board and senior executives are reportedly preparing for a transition that could see Cook depart following Apple’s earnings report in late January. This timing would allow a new leadership team ample opportunity to settle into their roles ahead of major annual events, such as the Worldwide Developers Conference (WWDC) in June.
At 65 years old, Cook has led Apple as CEO since Steve Jobs resigned in 2011, a tenure that has now surpassed that of the company's iconic co-founder. Under Cook's stewardship, Apple has seen phenomenal growth, with its market capitalization soaring from $350 billion to an impressive $4 trillion. However, the tech giant has reportedly faced challenges in defining a clear direction for its artificial intelligence strategy during this period.
While no final decisions have been made regarding Cook's successor or the exact timing of his departure, the FT report highlights John Ternus, Apple's senior vice president of hardware engineering, as the most probable candidate for the company's next CEO.
