Apple CEO Tim Cook May Exit Soon; John Ternus Leads Succession

BREAKING: Apple is rapidly advancing its CEO succession plans as Tim Cook considers stepping down as early as next year. This urgent update comes amid reports from the Financial Times indicating that board members and senior executives are preparing for a potential leadership transition.

Cook, who recently turned 65, has led Apple since 2011, following the passing of co-founder Steve Jobs. The swift preparations suggest an announcement regarding his departure could occur in early 2024.

John Ternus, Apple’s hardware engineering chief, has emerged as the frontrunner to replace Cook. Ternus, aged 50, has been with Apple since 2001 and became a vice president in 2013. He oversees key products including the iPhone, iPad, and Mac, and played a pivotal role in transitioning Apple from Intel processors to its in-house silicon chips.

Sources close to the situation describe Ternus as “charismatic and well-regarded” among Apple loyalists, with strong support from Cook. As the company prepares for this potential shift, Ternus’s extensive experience and leadership capabilities may position him well to guide Apple forward.

If appointed, Ternus will step into the shoes of a leader who has seen Apple’s market capitalization soar from approximately $350 billion in 2011 to an astonishing $4 trillion today. Under Cook’s leadership, Apple became the first publicly traded U.S. company to reach a valuation of $1 trillion in 2018 and crossed the $2 trillion mark just two years later.

Cook has been instrumental in launching successful products such as the Apple Watch and AirPods, while also driving a significant pivot towards services, which surged from under $3 billion in fiscal 2011 to over $96 billion in 2024. This shift has provided a reliable revenue stream amidst slower iPhone growth.

While Cook has confirmed the existence of detailed succession plans, he remains tight-lipped about timing. In a podcast with singer Dua Lipa in November 2023, he emphasized the importance of internal candidates for the CEO role: “I really want the person to come from within Apple.”

Despite the growing speculation, Cook insists he is not in a rush to leave. “I love it,” he stated about his time at Apple. “I can’t envision my life without being there, so I’ll be there a while.”

As Apple’s stock continues to hover near an all-time high, the pressure mounts as competitors like Microsoft and Nvidia gain traction with advancements in artificial intelligence.

This developing story is prompting widespread speculation about the future of one of the world’s most valuable companies. Stakeholders and fans alike are closely monitoring Cook’s next steps, with many eager to see who will steer Apple into its next chapter.

Stay tuned for more updates on this pressing situation as it unfolds.