Apple Steps Up CEO Succession Planning

Apple ramped up internal discussions about who will succeed CEO Tim Cook. The board is preparing for the executive to step down as early as next year.

Senior leaders have stepped up succession planning in recent weeks, with hardware engineering chief John Ternus emerging as the leading internal contender. Cook, who turned 65 this month, has been at the helm for nearly 15 years. Apple is not expected to confirm any transition until after it reports quarterly earnings in late January, though no final decision has been made, and the timeline could shift.

The succession follows notable leadership reshuffles in 2025, following the departures of long-time CFO Luca Maestri and COO Jeff Williams earlier this year. Sources said that Cook’s transition is unrelated to Apple’s business performance as the company heads into what is projected to be a strong end-of-year iPhone sales cycle.

The iPhone-maker’s valuation jumped from $350 billion at the start of Cook's tenure to around $4 trillion today. The next CEO will face tougher strategic decisions as Apple contends with two potentially existential challenges: AI and the rise of metaverse-era devices.