John Ternus, Senior Vice President of Hardware Engineering at Apple, is widely seen as the most likely successor to Tim Cook.
Tim Cook (pictured) took over as Apple CEO in 2011
Photo Credit: Reuters
Tim Cook will reportedly not step down from his position as the Chief Executive Officer (CEO) of Apple next year, contrary to previous rumours. According to a seasoned journalist, there have been “few signs internally" that there would be a departure of the Apple veteran from the company. The report, however, corroborated previous claims that the current Senior Vice President of Hardware Engineering at Apple is seen as the most likely executive to replace Tim Cook.
Cook, who turned 65 this month, is one of the longest-serving CEOs in Silicon Valley. He took over the role from Apple co-founder Steve Jobs in 2011, who passed away months later. With Cook at the helm, the Big Tech group's market capitalisation has surged from about $350bn in 2011 to $4tn today.
In the latest edition of the Power On newsletter, Bloomberg's Mark Gurman wrote that the news about Tim Cook stepping down from his position as Apple CEO by July next year is false. “In fact, I would be shocked if Cook steps down in the time frame outlined by the FT,” the journalist said.
The journalist claimed that Cook has earned the right to decide his own future following the company's growth and success under his leadership. There have reportedly been a “few signs internally” that the Apple veteran could hand over the baton. But even when he does, Tim Cook is expected to still be at the company as the Chairman.
The Financial Times previously reported that Apple could name a new CEO after its next earnings report in late January. It was believed that this would give its new leadership team ample time to settle in before the company's annual hardware and software events begin. Tim Cook stepping down as Apple CEO is not reportedly related to the tech giant's current performance, but a long-planned transition.
While Gurman did not believe in the timeline, outlined by FT, of Tim Cook stepping down, he corroborated the likely successor. John Ternus, Senior Vice President of Hardware Engineering at Apple, is widely seen as the most likely successor to Tim Cook at the moment.
As per Gurman, John Ternus is the youngest member of the executive team at the company and thus, offers the longest potential runway. Further, Ternus oversees Apple's hardware vision, which is one of the tech giant's core businesses, and is “highly regarded” by both Cook and former Apple Chief Operating Officer (COO) Jeff Williams.
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