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Apple has ramped up its secretive CEO succession planning, preparing for the possibility that Tim Cook could exit as early as next year, according to a report.
Board members and senior executives have accelerated preparations in recent months as Cook, who turned 65 this month, weighs the end of a 14-year run that began after the death of co-founder Steve Jobs in 2011, the Financial Times reported.
The effort has intensified to the point where an announcement could come sometime early next year — with hardware engineering chief John Ternus emerging as the leading contender, according to the report, which cited unnamed sources.
Apple finds itself at a crossroads as it searches for growth beyond the iPhone. The Vision Pro headset fell short of sales targets, with projections cut in half, and the company has pushed back its AI-powered Siri to 2026 as rivals like Microsoft and Google accelerate their artificial intelligence efforts.
Ternus, 50, joined Apple’s product design team in 2001 and rose steadily through senior roles in the company’s hardware division. He eventually became a vice president in 2013, taking charge of hardware engineering several years later. In 2021, he joined the company’s executive team.
Ternus, a former champion swimmer, reigns over a portfolio that includes the iPhone, iPad, Mac and AirPods. He also played a central role in the high-stakes shift from Intel processors to the company’s in-house Apple silicon chips.
In recent years, Ternus has also become a familiar presence at major launch events. Ternus has been described as an executive who is “charismatic and well-regarded by Apple loyalists” and who is trusted by Cook, who has granted Ternus more responsibilities, according to Bloomberg News.
While Ternus is viewed by many as the favorite, no decision has been made, according to the FT.
Dan Ives, head of technology research at Wedbush Securities, sounded skeptical that Cook would step down anytime within the next two years.
Ternus, 50, joined Apple’s product design team in 2001 and rose steadily through senior roles in the company’s hardware division. He eventually became a vice president in 2013, taking charge of hardware engineering several years later. In 2021, he joined the company’s executive team.
Ternus, a former champion swimmer, reigns over a portfolio that includes the iPhone, iPad, Mac and AirPods. He also played a central role in the high-stakes shift from Intel processors to the company’s in-house Apple silicon chips.
In recent years, Ternus has also become a familiar presence at major launch events. Ternus has been described as an executive who is “charismatic and well-regarded by Apple loyalists” and who is trusted by Cook, who has granted Ternus more responsibilities, according to CNBC News.
While Ternus is viewed by many as the favorite, no decision has been made, according to the FT.
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