As reported by the Financial Times, Tim Cook may step down from his role as Apple CEO as soon as next year. The board has begun to thoughtfully strategize a succession plan. FT notes that John Ternus, Apple’s senior vice president of hardware engineering, is seen as the leading candidate for the role.
Cook, who recently turned 65, has served as CEO for 14 years, overseeing both remarkable growth and his fair share of controversies. He is also largely viewed as instrumental in Apple’s transition to outsourcing production, which has allowed the company to function on a much larger scale compared to its previous operations.
Speculations regarding Cook’s potential departure arise after the retirement of Apple COO Jeff Williams, whose final day at the firm was Friday. In conjunction with that exit, several responsibilities at the executive tier have been reassigned, including expanded roles for Services leader Eddy Cue, head of software engineering Craig Federighi, and Ternus.
Regardless of who ultimately takes over as CEO, it’s improbable that the choice will be someone external to Apple. Tim Cook has previously expressed there is a strong inclination towards an internal candidate and that the company has “thorough succession strategies.”
