Apple is preparing for Tim Cook to step down as CEO of the company "as soon as next year," according to the Financial Times.
The company's board of directors and senior executives "recently intensified preparations for Cook to hand over the reins," the report said.
While the report said that Apple is unlikely to name a new CEO before its next earnings report in late January, it went on to explain that an announcement early in the year would allow for a smooth leadership transition, ahead of Apple's annual developers conference WWDC in June and iPhone event in September.
No final decisions have been made, and the timing could change, the report said.
Cook has been Apple's CEO since August 2011. He turned 65 this year, which is a common age for retirement in the United States, but he has yet to publicly announce any plans to step down. Apple's Senior Vice President of Hardware Engineering, John Ternus, is widely viewed as Cook's most likely successor when the time comes.
Ternus joined Apple in 2001. At 50, he is one of Apple's younger senior executives, so he could potentially have a lengthy run as CEO.
Bloomberg's Mark Gurman pushed back on the report. "I don't get the sense anything is imminent as the [Financial Times] is claiming," he said, in a post today.
In any case, the report said Apple's succession plans are not related to the company's current performance. Apple reported record revenue in the September quarter, and the company expects the current December quarter to be the best quarter in the company's history. In addition, Apple's stock price is near its all-time high.
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We need a design focused leader that will take risks on new technology, someone with long term vision. Apple nowadays can afford it without too much risk to its bottom line. This is a must to get Apple back in the leadership position on the market.
No more chasing a high stock price with buy backs etc. Spend that money on R&D!
It’s time. John Ternus is a product design guy who has put out some amazing hardware. Apple needs that right now. Tim got the company massive profit but they have lost their soul in recent years.
He undoubtedly made Apple a boatload of money, so I can’t say he did bad in that sense — but man, I can’t wait to not see him in product launches and interviews. His enthusiasm seems sooooooo inauthentic. He hardly seems like a genuine tech enthusiast.
Every year, it’s, “oh man I am so excited [for these marginal upgrades].” Like bruh, not even Apple’s staunchest fanboys are excited as you supposedly are.
Tim Cook did a tremendous job. Anyone who doesn't see that needs to think about how bad things could have gone after Steve Jobs. But now is a great time for a change of leadership, because the tech landscape is starting to drastically change. A fresh pair of eyes will be welcome.
