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New Delhi: Tim Cook, the CEO of Apple, might retire in the coming year, reported the Financial Times. Individuals conversing in internal discussions assert that Apple will hardly have a successor in its next earnings report toward the end of January, including the all-important holiday quarter. It was announced early in the year that it would give the new leadership time to prepare Apple for some of its biggest annual events, which include the Worldwide Developers Conference in June and the introduction of iPhone 18 in September. It was also reported that the timeline might still be altered.
According to the report, the best candidate to replace Cook is John Ternus, the Apple senior vice president of hardware engineering. Nonetheless, it is insider information that no decision has been made. The possible shift is not associated with the performance of Apple at the moment, which is projected to be high during this holiday season. Cook is 65 years old and, as of this month, has managed to grow Apple from a company worth $350 billion in 2011 to one worth $4 trillion.
Ternus has been instrumental in the recent hardware release and is viewed as a consistent internal decision. Cook has already indicated that he prefers an in-house approach regarding promotion and that Apple has meticulous succession strategies. His earlier statements indicated that he had no plans to leave, and the new report indicates that that might change.
This year, Apple has already seen some of the highest-level exits. The long-serving CFO Luca Maestri retired, and the COO Jeff Williams said he is departing in July. Although Apple has had good performance in the last month, the shares have gained only approximately 12 per cent in the current year, which is worse than its competitors like Alphabet, Nvidia, and Microsoft, which have been on a booming AI-driven drive.
If Cook steps down next year, he can conclude that his term as CEO was one of the successful ones in the history of technology. During his leadership, Apple has been changed into the most valuable public enterprise in the world. Although it is about to change, insiders claim that Apple is going through the transition process on a high note, and its coming generation of devices is likely to be in high demand.
