Apple appears to have stepped up preparations for a future without Tim Cook as CEO. According to several US media reports, the company’s top management has been working on a carefully constructed succession strategy for some time, which has now reached a decisive phase.
Sources within Apple emphasize to the Financial Times that this possible change has no connection whatsoever with disappointing business results.
Apple has been looking at internal candidates for top leadership positions for some time. The name that is currently being mentioned most often is that of John Ternus, senior vice president responsible for hardware engineering. In recent years, Ternus has played a major role in the development of the latest iPhones, Apple Silicon chips, and various new hardware platforms. According to insiders, his prominent position in product development would make him a logical successor to Cook.
Announcement to follow after the holidays
Although discussions about succession have gained momentum, Apple does not intend to announce the new CEO in the short term. The period around November and December is traditionally the most profitable time of the year for Apple. To avoid any distraction or unrest, management wants to finalize the crucial holiday season figures before announcing any major leadership decisions.
An official announcement would only be realistic around the time of the next quarterly report at the end of January. This timing is strategically advantageous: sales figures will be in, the holiday season will be over, and Apple will be able to present a new CEO during a relatively quieter period in the market.
Apple grew strongly under Cook
Cook has led Apple since 2011, when he took over from co-founder Steve Jobs. Under his leadership, Apple has grown into one of the most valuable companies in the world. The market value has more than tripled during his tenure to several trillion dollars, while revenue has more than quadrupled since he took office. Apple also significantly expanded its portfolio: with the introduction of the Apple Watch in 2015, the company launched its first completely new product line since the iPad, followed by the popular AirPods.
In addition, Apple took a historic technological step with the transition to its own Apple Silicon chips, which has dramatically improved the performance and efficiency of the Mac line. These product and technological innovations formed the basis for a broader ecosystem strategy, in which services play an increasingly important role.
For investors and market observers, it is therefore an important signal that the possible transition is not a sudden or crisis-driven decision, but a long-planned step to ensure the continuity of the company.
If Cook does indeed step down within 12 to 18 months, the next CEO will be responsible for further expanding Apple’s strategy around AI functionality, services, and in-house chip development. At the same time, the company will need to continue innovating in increasingly saturated markets such as smartphones and wearables.