Apple is reportedly intensifying its succession planning efforts. According to a new report from The Financial Times, the company’s board and senior executives are preparing for the possibility that CEO Tim Cook could step down as soon as early next year. This potential departure would likely occur after Apple’s earnings report in late January, a timeline designed to give the new leadership team an opportunity to settle in before major events like the Worldwide Developers Conference in June.
Tim Cook, now 65, has held the role of chief executive since Steve Jobs resigned in 2011, marking a tenure that is now longer than Jobs’ own. The Financial Times notes that under Cook’s leadership, Apple has seen its market capitalization grow from $350 billion to $4 trillion, although the report adds that the company has apparently struggled to find the right direction regarding artificial intelligence.
While The Financial Times states that no final decisions have been made concerning the exact timing of the departure or the specific successor, there is a leading candidate. John Ternus, Apple’s senior vice president of hardware engineering, is reportedly viewed as the most likely person to become the company’s next CEO.
