Apple is enhancing its succession planning as it prepares for Tim Cook to step down as the tech giant’s CEO as early as next year, according to a report by the Financial Times on Friday.
John Ternus, Apple’s senior vice president of hardware engineering, is widely regarded as the most likely successor to Cook, the FT mentioned, citing several individuals familiar with the discussions.
The newspaper quoted insiders from the iPhone maker, stating that the board and senior executives have recently intensified preparations for Cook to pass the leadership baton after more than 14 years.
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Apple is unlikely to appoint a new CEO before its next earnings report in late January, which includes the critical holiday season, the FT noted.
Cook became CEO in 2011 after Silicon Valley icon Steve Jobs stepped down, ending his leadership at the tech giant he co-founded in a garage.
