Apple CEO Tim Cook could exit as early as next year — here's who could replace him: report

Core Insights - Apple is intensifying its CEO succession planning as Tim Cook, who recently turned 65, may exit as early as next year [1][5][15] - John Ternus, the head of hardware engineering, is emerging as the leading candidate to succeed Cook [2][11][6] Company Performance - Under Cook's leadership, Apple's market capitalization increased tenfold from approximately $350 billion in 2011 to $4 trillion today [9][14] - The company became the first publicly traded U.S. firm to reach a $1 trillion valuation in 2018 and crossed the $2 trillion mark in 2020 [9] Leadership Transition - Ternus has been with Apple since 2001, rising through the ranks to become a vice president and eventually joining the executive team [3][6] - Cook has emphasized the importance of internal succession, expressing a preference for a successor from within the company [15] Product and Service Growth - Cook has been credited with the successful launch of products like the Apple Watch and AirPods, as well as a significant pivot to services, which grew from under $3 billion in fiscal 2011 to over $96 billion in 2024 [12][17] - The services division provides a steady revenue stream to offset slowing iPhone growth [12] Future Outlook - Despite the intensified succession planning, Cook has indicated he is not in a hurry to leave, expressing his enjoyment of his role at Apple [15][16]