Image Source: X/Apple (Image Source: X/Apple)
New Delhi: Apple’s long-time leader Tim Cook may leave his role as Chief Executive Officer as early as next year, according to a new report. Cook, who turned 65 this year, became CEO after the death of Apple co-founder Steve Jobs in 2011.
After leading the company for 14 years, he is now expected to step away from the position. The report says Apple has increased its search for a new CEO, and Cook has shared that he wants someone from inside the company to take his place.
According to the Financial Times, which spoke to people familiar with the matter, Cook’s plans to leave Apple are part of a long-prepared transition and have nothing to do with the company’s current performance.
Apple is not expected to announce its next CEO before its earnings report in late January. This timeline may allow the new leader to settle in before Apple’s yearly product and software events, starting with the Worldwide Developers Conference in June.
Although the final decision has not been made, Cook reportedly prefers an internal choice. John Ternus, Apple’s Senior Vice President of Hardware Engineering, is currently seen as the leading candidate to replace him.
During Cook’s 14 years as CEO, Apple’s market value increased dramatically—from about $350 billion (roughly Rs. 31 lakh crore) to around $4 trillion (roughly Rs. 354.8 lakh crore).
Cook, who previously served as Apple’s operations chief, turned 65 this month. He has been at the head of the company since 2011, taking over shortly before Steve Jobs passed away. Over this period, Apple’s market value has risen from $350 billion to an impressive $4 trillion today.
The report also states that Apple’s stock is trading close to its record high, thanks to strong earnings last month. Although Apple still trails some tech rivals such as Alphabet, Microsoft, and Nvidia, the company expects the upcoming holiday season to deliver its best-ever sales quarter.
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