Khaberni - Apple plans to replace its current CEO Tim Cook at the beginning of next year, with people familiar with the internal discussions reporting to the Financial Times that Apple's board and senior officials are preparing to change the CEO of the company, which is valued at 4 trillion dollars, after Cook has spent more than 14 years in his position.
It is unclear who will replace him, but all eyes are on John Ternus, Apple's Senior Vice President of Hardware Engineering, though there are several other names like Jeff Williams, Craig Federighi, and Deirdre O'Brien.
People close to Apple believe that this transition has been planned for a long time and is not related to the current performance of the company, especially with strong sales expected at the end of the year for iPhones.
It is unlikely that the company will announce its new CEO before the release of its next earnings report in late January, which covers the important holiday sales period. An early announcement during the year would give the new leadership team sufficient time to settle in before the company's most important annual events, such as the developers conference in June and the iPhone launch in September, according to sources.
It should be noted that Cook, who is 65 years old, previously held the position of COO and took over leadership of the company in 2011 after he took over from co-founder Steve Jobs (who died months later), and during his tenure, the market value of the company has risen from about 350 billion dollars in 2011 to 4 trillion today.
This year, Apple saw several notable changes in its executive team, as CFO Luca Maestri – a longtime close associate of Cook – stepped down from his role at the beginning of the year, and Jeff Williams, also close to Cook, announced he would leave his position as COO in July, according to the Financial Times.
Analysts believe that appointing Ternus, being a prominent figure within the hardware division, would be a significant leap forward, at a time when Apple faces challenges entering new product categories and keeping up with its Silicon Valley rivals in the field of artificial intelligence. Cook has expressed a preference for choosing his successor from within the company, indicating that Apple has "very detailed succession plans."
Who is John Ternus, the Potential Successor to Cook?
John Ternus currently serves as the Senior Vice President of Hardware Engineering at Apple, overseeing all hardware development teams, including those responsible for iPhone, iPad, Mac, and AirPod devices. Ternus is about 50 years old and is frequently mentioned as one of the most prominent candidates to possibly succeed Tim Cook.
Ternus joined Apple in 2001 as part of the product design team, and over time, he rose through the ranks within the company, becoming Vice President of Hardware Engineering in 2013, and was promoted in 2021 to Senior Vice President, becoming the main person in charge of the hardware engineering sector at the company.
In recent years, John Ternus has become a prominent figure in Apple events, presenting new devices, and many see his increasing presence as a sign that Apple is preparing him for a larger leadership role.
