Apple’s top boss may soon be stepping aside

Tim Cook has been at the top of Apple’s hierarchy since 2011 and is approaching 15 years as the tech giant’s CEO.

However, a report in the Financial Times suggests that Apple is preparing for a change at the top, and that Cook could step down as CEO as early as next year.

According to the report, the board and senior management have stepped up efforts to find a successor. John Ternus, who leads hardware development, is again highlighted as the most obvious internal candidate, while Apple is also looking at external candidates.

The plan may be to make an announcement early in the year so that a new CEO can settle into the role before the WWDC developer conference in June and the next iPhone launch event in September.

Apple is not expected to name a new CEO before its next quarterly report at the end of January, but the window between that report and the major spring events makes sense for such a sensitive change.

At the same time, Tim Cook has previously said that he doesn’t expect to still be in the CEO chair by 2031, so the process fits with his own long-term plan.

A leak that looks like a trial balloon

It’s not just the rumor itself that’s attracting attention, but also the way it has surfaced.

Several US media outlets refer to the whole story as a kind of trial balloon, where Apple, according to The New York Post, is testing the reaction in the market and among investors.

The idea is that a controlled leak can help the market gradually get used to the idea of a change in leadership instead of being shocked if the announcement comes without warning.

At the same time, commentators emphasize that the number of people who know the real plans is very limited.

That’s why it seems unlikely that several independent sources would suddenly leak the same story by accident.

A new timeline for Apple

The rumor is not about Tim Cook disappearing from Apple overnight.

The scenario is that he will change his title and take on the role of chairman of the board in the future.

The current chairman, Arthur D. Levinson, is 75 years old, and according to Apple’s own guidelines, board members are generally not eligible for re-election after that age.

This makes the next shareholder meeting a natural time for a change in that role.

Before the meeting, Apple must publish the materials for shareholders, and that will make it possible to see whether Tim Cook is standing for the board in a new capacity.

If so, he can either become a non-executive chair with a focus on board work or executive chair with a more active role in day-to-day management.

The latter would make the transition to a new CEO smoother because Cook would remain close to the big decisions. It would also send a signal of continuity after a period of historic growth.

Since Cook took over in 2011, Apple’s market capitalization has grown from around 350 billion dollars to around 4,000 billion dollars, which corresponds to an increase from approximately 2,300 billion Danish kroner to just over 25,000 billion kroner at today’s exchange rate.

This development makes it crucial for Apple to find a model where a new CEO can make their mark, while investors and customers retain a sense of familiarity.

That’s why there is a strong case for a solution where John Ternus or another candidate takes over the CEO role, and Tim Cook continues as the unifying figure in the boardroom.