"Apple's senior vice president of hardware engineering, 50-year-old John Ternus, is widely seen as the most likely successor, but no final decisions have been made yet, sources told the FT. The engineer joined Apple's product design team in 2001 and has overseen hardware engineering for most major products the tech company has launched ever since, according to Ternus' LinkedIn profile."
"He has also played a prominent role during Apple's most recent keynotes, introducing products like the new iPhone Air. Ternus had been rumored to be Cook's potential successor, according to previous reports. The company is unlikely to name a new CEO before its next earnings report in late January, and an early-year announcement would allow a new leadership team time to settle in before its annual events, the FT said."
"The succession preparations have been long-planned and are not related to the company's current performance, which is expecting strong end-of-year sales, people close to Apple told the FT. Apple did not immediately respond to Fortune's request for comment and declined to provide a comment to the FT. The $4 trillion company is expecting year-on-year revenue growth of 10% to 12% for its holiday quarter ending in December, fueled by the release of the iPhone 17 model in September."
Apple's board and senior executives have accelerated succession planning for Tim Cook, who may step down after 14 years as CEO as early as next year. Senior vice president of hardware engineering John Ternus, 50, is widely viewed as the most likely successor, though no final decision has been made. Ternus joined the product design team in 2001 and has overseen hardware engineering for major products. The company likely will not name a new CEO before its next earnings report in late January. Apple expects 10–12% year-on-year holiday-quarter revenue growth driven by iPhone 17 sales and faces criticism for a limited AI strategy.
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