2026 might mark a new chapter for Apple, with the board hastening a key decision
These might be Tim Cook's last few months as CEO.
An Apple Store. | Image Credit - REUTERS
The new CEO won't be announced before late January
FT says Apple has intensified preparations for the succession process. Cook succeeded Steve Jobs in 2011 and has been CEO for over 14 years. Notably, his departure isn't linked to Apple's current performance; instead it follows a period of immense growth, with Apple's market capitalisation expanding from $350bn to $4 trillion under his leadership.
The new CEO is unlikely to be named before the next earnings report is published in late January. Getting the announcement out of the way early in the year will give breathing room to the company before high-profile events such as the developer conference in June and iPhone 18's launch in September.
Although Ternus is most likely to be the new CEO, the decision hasn't been finalised. Similarly, though the company is believed to have ramped up efforts for the leadership transition, the announcement may be delayed.
Ternus's appointment would put a hardware executive back in charge, which is crucial given Apple's recent struggles.
Tim Cook can't retain the position indefinitely. He has been CEO for longer than the average Fortune 500 CEO, and at 65, is at an age where making way for someone new makes sense. Chief Operating Officer Jeff Williams could have been the next in charge, but he is set to leave this year.
Apple likes to promote from within, and with some recent and upcoming departures, it has a severely limited pool to choose from. Though Apple saw remarkable growth under Cook, the company didn't break any new ground, which is why a technologist like Ternus is a logical choice.
He is 50, the same age Cook was when he was appointed CEO, so he could be expected to stick around for a decade or more. He is also known to be respected and trusted within Apple and has already made many key decisions for the company.
Ternus's appointment would put a hardware executive back in charge, which is crucial given Apple's recent struggles.
About time
Tim Cook can't retain the position indefinitely. He has been CEO for longer than the average Fortune 500 CEO, and at 65, is at an age where making way for someone new makes sense. Chief Operating Officer Jeff Williams could have been the next in charge, but he is set to leave this year.
He is 50, the same age Cook was when he was appointed CEO, so he could be expected to stick around for a decade or more. He is also known to be respected and trusted within Apple and has already made many key decisions for the company.
Should Ternus be the one?
Gurman said in 2024 that Cook might remain CEO another three years.
Ternus is said to be cautious in his approach, rather than taking bold chances. While putting a hardware chief in charge increases the company's chances of cranking out its next category-defining product, Ternus might not necessarily deliver. He is not known to be an innovator, and though he can be credited for the iPad's OLED display, the infamous Touch Bar was also his idea. Similarly, he was a part of Apple's Vision Pro and self-driving car projects, the former of which hasn't proven to be a success, while the latter was abandoned.
He might not be ready to be thrust into the spotlight yet, and Bloomberg journalist Mark Gurman says a shake-up isn't imminent. In either case, Cook will likely still stay on as a board chairman after his retirement, so Ternus won't be on his own.
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