Apple has begun accelerating its succession planning as Tim Cook prepares to leave the role of chief executive, potentially as soon as next year.
According to the Financial Times, both Apple’s board and its top executives have recently intensified discussions about the transition. Cook, who has led the $4 trillion tech giant for more than 14 years, is expected to hand over leadership once the company finalises its succession strategy.

However, Apple is unlikely to reveal its next CEO before its next quarterly earnings release in late January. That report will cover the important holiday sales period.
If Apple makes an announcement early next year, the incoming leader would have time to settle in ahead of major moments on Apple’s calendar, including the spring keynote, the June developer conference, and the September iPhone launch.

John Ternus Emerges as the Leading Contender

John Ternus, Apple’s senior vice-president of hardware engineering, is widely seen as the front-runner to replace Cook, though sources told the Financial Times that no final choice has been made.

Apple has experienced significant leadership changes this year. Luca Maestri, Cook’s trusted advisor and longtime chief financial officer, stepped back from his post earlier in the year. Jeff Williams, Apple’s chief operating officer and one of Cook’s closest protégés, announced his departure in July.

If Ternus becomes CEO, Apple would shift to a hardware-oriented leader at a time when the company is under pressure. Apple has struggled to enter new product categories and has been slower than rivals in building competitive AI capabilities.

Cook’s Legacy and Market Challenges

Cook, who turned 65 this month, became CEO in 2011 after Steve Jobs stepped down shortly before his death. Since then, Apple’s market value has grown from roughly $350 billion to an unprecedented $4 trillion.

Even with strong earnings last month pushing Apple’s shares near record levels, the stock is up only about 12 per cent this year. That growth trails other major technology companies such as Alphabet, Nvidia, and Microsoft—firms that have surged as investors pour money into AI-focused businesses.

Cook has repeatedly said he favours selecting an internal successor. He has also insisted that Apple maintains “very detailed succession plans.”
In a November 2023 interview with Dua Lipa on her podcast, he said, “I love it there and I can’t envision my life without being there, so I’ll be there a while.”