Leadership Change Under Discussion
There are reports that Apple will see a big transition in its leadership. As reported by the Financial Times, CEO Tim Cook may well resign next year. The board and senior executives have reportedly accelerated the internal process to identify his successor.
Successor from Within Likely
Cook has run Apple for almost 14 years, a long tenure that has initiated many conversations about who might succeed him. One of the most talked-about candidates is John Ternus, a Senior Vice President of Hardware Engineering. People close to the company said he was one of those being seriously considered for the position, though no final decision has been made. He has worked at Apple for 24 years.
Not Tied to Company Performance
Sources described the planned change as unrelated to Apple’s financial results, which are expected to show continued strong sales of the iPhone through the end of the year. Apple is due to release quarterly earnings in late January, covering the holiday sales period, and could announce its new chief executive following that report. Events like its annual developer conference in June and the launch of new iPhones in September suggest an early-year transition date gives the next CEO ample time to prepare for at least some of those milestones.
Cook's Tenure and Achievements
Tim Cook, 65, took over as chief executive in 2011 following the death of co-founder Steve Jobs. During Mr. Cook's tenure, Apple's market value rose from $350 billion to $4 trillion.
Successor Likely to Come from Within Apple
Cook earlier expressed his desire to see that the next Apple CEO is someone within Apple. He even outlined the succession plan as crystal clear. In the development of artificial intelligence, the company had trailed its competitors. Perhaps naming a hardware unit leader is a part of the company's strategy to tighten up this business area.
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