The Financial Times, under a four-person byline (“Tim Bradshaw, Stephen Morris, and Michael Acton in San Francisco, and Daniel Thomas in London”):
Apple is stepping up its succession planning efforts, as it
prepares for Tim Cook to step down as chief executive as soon as
next year. Several people familiar with discussions inside the
tech group told the Financial Times that its board and senior
executives have recently intensified preparations for Cook to hand
over the reins at the $4tn company after more than 14 years.John Ternus, Apple’s senior vice-president of hardware
engineering, is widely seen as Cook’s most likely successor,
although no final decisions have been made, these people said.People close to Apple say the long-planned transition is not
related to the company’s current performance, ahead of what
is expected to be a blockbuster end-of-year sales period for
the iPhone. […]The company is unlikely to name a new CEO before its next earnings
report in late January, which covers the critical holiday period.
An announcement early in the year would give its new leadership
team time to settle in ahead of its big annual keynote events, its
developer conference in June and its iPhone launch in September,
the people said. These people said that although preparations have
intensified, the timing of any announcement could change.
I have no little-birdie insight on this, but that’s not surprising. I don’t think there are many people, if any, outside Apple’s top executive team and board of directors who have any insight into Cook’s thinking on this. That “several people” spoke to the FT about this says to me that those sources (members of the board?) did so with Cook’s blessing, and they want this announcement to be no more than a little surprising.
I absolutely love the idea of Cook’s successor being a product person like Ternus, and Ternus is young enough — 50, the same age Cook was in 2011 when he took the reins from Steve Jobs — to hold the job for a long stretch. Ternus took over iPhone hardware engineering in 2020, and was promoted to senior vice president of hardware engineering in January 2021, when Dan Riccio stepped aside. Apple’s hardware, across all product lines and including silicon, has been exemplary under Ternus’s leadership. And Ternus clearly loves and understands the Mac.
I would also bet that Cook moves into the role of executive chairman, and will still play a significant, if not leading, role for the company when it comes to domestic and international politics. Especially with regard to Trump.
