Word on the street is that Tim Cook is gearing up to step down as Apple’s chief executive next year.
Apparently, the Apple board and top brass have been ramping up their succession plans behind the scenes, getting ready for a change at the top after Cook’s impressive 14-year run, according to Financial Times.
Cook, who just celebrated his 65th birthday this month, has been steering the ship since 2011, taking over from the company’s co-founder Steve Jobs just months before his passing. It’s a role that comes with some rather large shoes to fill.
So, who’s in line for the top job? The name on everyone’s lips is John Ternus, Apple’s current senior vice-president of hardware engineering. He’s widely considered the frontrunner, though insiders are quick to note that nothing’s been set in stone just yet.
Don’t expect an official announcement soon though. The company will want to get through its next earnings report, which covers the all-important holiday season, before making any moves. An announcement early in the new year would be the logical next step, giving a new leadership team a comfortable runway to get settled before the big annual events – like the developer conference in June and the blockbuster iPhone launch in September.
Of course, these things are always a bit fluid. While the preparations have certainly intensified, the folks in the know say the timing for any official word could still shift.