Report: Tim Cook to Step Down as Apple CEO 'as Soon as Next Year'

[MacRumors]

Apple is preparing for Tim Cook to step down as CEO of the company "as soon as next year," according to the Financial Times.

The company's board of directors and senior executives "recently intensified preparations for Cook to hand over the reins," the report said.

While the report said that Apple is unlikely to name a new CEO before its next earnings report in late January, it went on to explain that an announcement early in the year would allow for a smooth leadership transition, ahead of Apple's annual developers conference WWDC in June and iPhone event in September.

No final decisions have been made, and the timing could change, the report said.

Cook has been Apple's CEO since August 2011. He turned 65 this year, which is a common age for retirement in the United States, but he has yet to publicly announce any plans to step down. Apple's Senior Vice President of Hardware Engineering, John Ternus, is widely viewed as Cook's most likely successor when the time comes.

Ternus joined Apple in 2001. At 50, he is one of Apple's younger senior executives, so he could potentially have a lengthy run as CEO.

Bloomberg's Mark Gurman pushed back on the report. "I don't get the sense anything is imminent as the [Financial Times] is claiming," he said, in a post today.

In any case, the report said Apple's succession plans are not related to the company's current performance. Apple reported record revenue in the September quarter, and the company expects the current December quarter to be the best quarter in the company's history. In addition, Apple's stock price is near its all-time high.

Article Link: Report: Tim Cook to Step Down as Apple CEO 'as Soon as Next Year'

 

[segfaultdotorg]

He's going to pursue his passion project and namesake, the iCook meal kit service. Godspeed, Tim Apple!

 

[MacUserFella]

I’m happy because he can relax and he deserves it.
You’re happy because you hate him and what he did to Apple.

We are not the same.

 

[Fraserh02]

Tim’s cooked!

 

[jz0309]

Well, he certainly is at retirement age, and if true, a year or so of transition would make sense.
But who knows, will wait until an official statement...

 

[nono_thank you]

Thanks and keep on keepin' on, Tim!

 

[maximit]

We need a design focused leader that will take risks on new technology, someone with long term vision. Apple nowadays can afford it without too much risk to its bottom line. This is a must to get Apple back in the leadership position on the market.

No more chasing a high stock price with buy backs etc. Spend that money on R&D!

 

[jonnyb098]

It’s time. John Ternus is a product design guy who has put out some amazing hardware. Apple needs that right now. Tim got the company massive profit but they have lost their soul in recent years.

 

[mrat93]

He undoubtedly made Apple a boatload of money, so I can’t say he did bad in that sense — but man, I can’t wait to not see him in product launches and interviews. His enthusiasm seems sooooooo inauthentic. He hardly seems like a genuine tech enthusiast.

Every year, it’s, “oh man I am so excited [for these marginal upgrades].” Like bruh, not even Apple’s staunchest fanboys are excited as you supposedly are.

 

[capamac]

Cook is OK but he's no Jobs.

 

[filmantopia]

Tim Cook did a tremendous job. Anyone who doesn't see that needs to think about how bad things could have gone after Steve Jobs. But now is a great time for a change of leadership, because the tech landscape is starting to drastically change. A fresh pair of eyes will be welcome.

 

[filmantopia]

Cook is OK but he's no Jobs.

Only one person was ever going to be Jobs.

 

[I7guy]

Changing of the guard. Good luck Tim. No matter the critics you’ve done an outstanding job overall.

 

[Finalcountdown]

This is excellent. The company is scaled. Let’s move on. Need some fresh thinking.

 

[Plutonius]

It’s time. John Ternus is a product design guy who has put out some amazing hardware. Apple needs that right now. Tim got the company massive profit but they have lost their soul in recent years.

The consumer wants amazing hardware. Apple and the shareholders want profits.

I doubt that the new CEO will be an amazing hardware designer.

 

[ThailandToo]

Finally. Cannot wait until the Board ruins this and hires another bean counter instead of someone who understands product innovation.

 

[Plutonius]

Cook is OK but he's no Jobs.

I agree.

I think that there is no way Steve Jobs could have made Apple and Apple shares as profitable as they are now.

 

[digimc]

Tim Cook did a pretty good job guiding Apple through its largest expansion in its history. IMO he will be missed and whoever fills his shoes will have an enormous challenge at keeping Apple on track, especially as the markets have changes some much over the last couple decades.

I wouldn't be surprised to see him remain on in some type of advisory role.

 

[ThailandToo]

It’s time. John Ternus is a product design guy who has put out some amazing hardware. Apple needs that right now. Tim got the company massive profit but they have lost their soul in recent years.

I would say they need innovation far more than product development. The products have been good, but very safe giving people what they wanted, a MBP full of old ports that aren’t used by most. A heavy iPhone that must have a case because it’s made with soft aluminum. In reality, titanium is a much better material for something people put in their pocket. Vision Pro was what Tim wanted to put out when the product people said it wasn’t ready, and now Apple backtracks with virtually no Vision Pro development and glasses years away to catch up, wait for it, with META! Sad days for Apple customers in reality, was a great run for shareholders and executive team, but the rest of us got the shaft.

 

[Yr Blues]

They're going to resurrect Steve Jobs as an AI hologram to run the company.

 

[ThailandToo]

Tim Cook did a pretty good job guiding Apple through its largest expansion in its history. IMO he will be missed and whoever fills his shoes will have an enormous challenge at keeping Apple on track, especially as the markets have changes some much over the last couple decades.

I wouldn't be surprised to see him remain on in some type of advisory role.

Is keeping Apple on track meaning continue to run it like a financial institution instead of a technology company? Lying to customers, making promises it cannot keep, ignoring the reality of the situation with AI, treating developers terribly and acting like an anti-competitive bully….

 

[Vasilisxd]

Apple needs a Satya Nadella.

 

[ThailandToo]

They're going to resurrect Steve Jobs as an AI hologram to run the company.

an AI Steve Jobs would probably do a better job at developing products than the robot Tim Crook.

 

[BGPL]

Tim is a businessman, not an innovator. They need someone to bring Apple back to innovation. This is what made Apple different from Intel, IBM, Research In Motion, and every other tech competitor since the 1980's. I don't think Apple has ever been so far behind in a technology as they are with Siri and AI integration. Tim did well for shareholders and he was hyper focused on wealth, but Apple is more than that, or at least it was.

 

[Westside guy]

Since there was only one Steve Jobs, the best we can hope for is that Apple fills the role with another competent businessman. Honestly, despite how some people here feel... the "special-ness" of Apple is pretty much over, excepting any visions set put in place by Jobs himself which Apple continues to stick with (for now).