Apple (AAPL) is ramping up CEO succession planning efforts as Tim Cook may step down as soon as next year, the Financial Times reported, citing people familiar with discussions within the company.
John Ternus, Apple’s (AAPL) senior vice president of hardware engineering, is widely seen as Cook’s potential successor, the sources said, adding that no final decisions have been made.
While preparations for succession planning have accelerated, it’s unlikely that the company will name a new CEO before its earnings report in late January.
The long-planned CEO transition is unrelated to Apple’s (AAPL) current performance, people close to the company told FT.
Cook took over as Apple’s (AAPL) CEO in 2011, after co-founder Steve Jobs resigned from the role. Cook, who turned 65 this year, previously served as COO.
Over the weekend, prominent tech investor Ross Gerber called for new leadership at Apple (AAPL). “Tim has been phenomenal for a long time but it’s time for change. Apple and Google working together is destiny. Kill Siri. Ask Gemini,” he posted on X.
Apple (AAPL) had a couple of high-profile C-suite changes in recent months. Jeff Williams quit as COO in July, and officially retired from the company last Friday.
Luca Maestri resigned as CFO at the start of 2025, though he continues to lead the Corporate Services teams.