According to multiple foreign media reports, Apple Inc. CEO Tim Cook could step down as early as next year, with the company actively seeking a successor. Jeff Williams, Apple’s current Senior Vice President of Hardware Engineering, is widely seen as the most likely candidate.
Apple has yet to officially respond to these reports.
Bloomberg previously reported in early October that Cook might leave his CEO role within the next 1–2 years. On November 14, the Financial Times cited insiders stating that Apple’s board and executives are accelerating preparations for Cook’s succession.
Sources indicate Cook is unlikely to step down before Apple’s next quarterly earnings release, expected by late January 2025.
Tim Cook, born on November 1, 1960, in Alabama, is currently 65. He succeeded Apple co-founder Steve Jobs as CEO in 2011, leading the company for 14 years. Under his leadership, Apple’s market capitalization surged from $350 billion to $4 trillion, achieving milestones like becoming the first publicly traded company to hit $1 trillion in 2018 and $3 trillion in 2022.
John Ternus, Apple’s Senior VP of Hardware Engineering, is speculated to be Cook’s top successor. Reports also suggest several other senior executives may depart or retire next year, marking Apple’s largest leadership overhaul in over a decade.
Apple appears to be positioning Ternus prominently—its PR team has increasingly spotlighted him. For instance, he introduced the “thinnest-ever iPhone” at September’s developer conference and represented Cook during the iPhone 17 launch in London last month.
Ternus, 50, shares a similar age profile to Cook when he became CEO. A mechanical engineering graduate from the University of Pennsylvania (1997), Ternus was a record-holding collegiate swimmer before joining VR pioneer Virtual Research Systems. His early career exposed him to cutting-edge display and human-interface technologies.
He joined Apple’s product design team in 2001 during a pivotal era under Jobs’ revival. Starting with Mac displays, Ternus rose to VP of Hardware Engineering by 2013, overseeing AirPods, Mac, and iPad development. By 2021, he led all hardware engineering as Senior VP.
Analysts note Ternus’s technical expertise aligns with Apple’s shift toward hardware innovation over ecosystem expansion.
Should Cook step down, he may retain an advisory role, possibly as board chairman, following models like Jeff Bezos and Bill Gates. IDC analysts caution that succeeding “star CEOs” like Jobs and Cook sets a high bar for new leadership.
Apple traditionally announces major leadership changes post-January earnings. A 2025 transition would allow the new CEO to settle before June’s WWDC and September’s iPhone launch. Insiders stress this succession plan predates current performance concerns.
Ternus would helm Apple at a critical juncture. Despite iPhone and AirPods successes, Apple lags in AI compared to rivals like Meta, Amazon, Alphabet, and Microsoft—facing criticism for lacking a clear AI strategy.
Recently, however, investor concerns over rivals’ soaring AI costs have made Apple stock a “safe haven.” While Apple allocated billions for an in-house AI model by 2026, reports suggest it may still license OpenAI or Anthropic’s tech for Siri’s upgrade—now delayed to 2026+ due to technical hurdles.
Since January, Apple has lost key AI leaders to Meta, including Ruoming Pang, who led core generative AI efforts. It also faces competition from ex-execs: OpenAI’s $6.5B acquisition of Jony Ive’s startup aims to develop AI hardware, leveraging his iconic Apple design legacy.
(Disclaimer: This content is for informational purposes only and not investment advice.)