Tim Cook could step down as Apple’s chief executive as early as next year, according to a new report that follows months of speculation about the company’s long-term succession planning.
The Financial Times reports that Apple’s board and senior leadership have “recently intensified” discussions around identifying Cook’s successor. According to the publication, Senior Vice President of Hardware Engineering John Ternus is viewed internally as the leading candidate, though “no final decisions have been made.”
Cook has previously acknowledged that he does not expect to remain CEO for another decade. In a 2021 interview, he said he would “probably” step down within 10 years, noting that leadership changes are inevitable.
Cook joined Apple in 1998 after being recruited by Steve Jobs to oversee worldwide operations. He later served as interim CEO during Jobs’s medical leave in 2009 before formally taking on the chief executive role in August 2011.