After over 14 years of leading Apple and crafting his own path in the long shadow of Steve Jobs, Tim Cook might soon have more time to hike around Yosemite.
Driving the news: Apple is reportedly speeding up its CEO succession plan, with sources telling the Financial Times that Tim Cook (a.k.a. Tim Apple) could step down as soon as next year. Senior VP of hardware John Ternus has been tabbed as his most likely heir apparent.
Why it matters: Sources said Cook’s long-planned departure isn’t performance related — after all, Apple’s shares have climbed by 10.2% this year as the iPhone 17 broke sales records. But a leadership swap might give a shot in the arm to a giant that’s lost some mojo.
- Apple is behind other Big Tech titans on AI and, for the third straight year, its annual developers’ conference was underwhelming (Liquid Glass was not a gamechanger).
- If the board picks Ternus, Apple would have a hardware exec in charge, i.e. someone who’s better equipped to break ground on new tech than, say, a sales exec might be.
Zoom out: It could be, per Axios, the “twilight of the star CEO.” Walmart's Doug McMillon is retiring at the start of 2026, and Disney's Bob Iger is (for a second time) eyeing the exit. If Cook leaves too, three of the world’s biggest consumer-facing companies will have new leaders.—QH