After 14 years at the helm, Apple CEO Tim Cook may be loooking to pass the reins to a successor.
According to the Financial Times, Apple has stepped up its preparations for the handover of the CEO role from Tim Cook.
Per sources close to the story, Apple’s board and senior executives have “recently intensified” the company’s succession planning for its top role. It’s thought that John Ternus, Apple’s Senior VP of Hardware Engineering, could take on the role, albeit “no final decisions have been made”.
While the report doesn’t mention why Apple is accelerating its succession efforts, it notes that the move is not tied to the company’s performance:
Apple is unlikely to name a new CEO before its next earnings report in late January, which covers the critical holiday period. Sources have also noted that “although preparations have intensified, the timing of any announcement could change”.
The report arrived only hours after former Chief Operating Officer Jeff Williams completed his last day at Apple, following the retirement announcement he made in July. Williams had already handed operational leadership to Sabih Khan earlier this year, and his remaining responsibilities were recently redistributed among other top executives, Ternus among them.
Apple also recently transitioned to a new Chief Financial Officer, as longtime Chief Financial Officer Luca Maestri stepped down, handing the role over to Kevan Parekh, who previously served as the company’s Vice President of Financial Planning and Analysis.
Stay tuned for additional details as they become available.
Via 9to5Mac and the Financial Times
