Apple is enhancing its succession plans as it gets ready for Tim Cook to potentially step down as CEO next year, according to the Financial Times on Friday.
John Ternus, Apple’s senior VP of hardware engineering, is considered the top candidate to succeed Cook, the FT noted, referencing sources familiar with the situation.
Insiders at the iPhone manufacturer have indicated to the newspaper that the board and senior executives have recently increased their efforts to prepare for Cook’s transition after more than 14 years.
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Apple is not expected to announce a new CEO before its next earnings report in late January, which includes the crucial holiday sales data, the FT stated.
Cook took over as CEO in 2011 after Steve Jobs, a Silicon Valley icon, stepped down, concluding his era at the tech company he co-founded in a garage.
