Apple may see a leadership shake-up soon as Tim Cook is reportedly planning to step down as the CEO and leader of the Cupertino tech giant next year, with a new executive set to take his place.
It was revealed in the latest reports that Tim Cook may already be in the process of succession planning to find the next-in-line to lead Apple for the years to come.
Apple's Tim Cook Is Reportedly Stepping Down as CEO
The end of an era may be coming as The Financial Times reported that the Cupertino-based Big Tech giant will see Cook step down from his position next year.
The report did not cite the reason/s behind his departure as Apple's CEO, but the celebrated executive is already in his senior years at age 65.
Cook has already served 14 years as the leader of Apple since he was appointed as the CEO and successor of Steve Jobs, Apple's former CEO and co-founder, who vacated the position in 2011.
Cook has been the sole leader of Apple for many years now, and under his leadership, he transformed Apple into the world's most valuable company, with it recently competing with Nvidia for the spot.
The Search for Cook's Successor Is Happening Now
However, the report from The Financial Times, also mentioned by TechCrunch, said that Cook may not wait long for his departure as it was revealed that his retirement could come earlier in the next year.
The reports claim that Apple's board members and senior executives are planning for this, which could take place by late January or February.
It was also reported that Cook's departure may take place after Apple shares its annual earnings report in late January. Multiple reports have previously talked about Cook's resignation, and some have noted that John Ternus, Apple's senior vice president of hardware engineering, is set to replace Cook should he retire next year.
Cook is widely credited with growing Apple's valuation from $33 billion back in 2011 when Jobs left to a $4 trillion empire that is one of the most beloved names in the tech industry.
Cook is one of the longest-running CEOs in the world of technology, and he outlasted Jobs' tenure. Should he really step down, he will become the latest to join the lineup of former Apple CEOs, which includes Jobs, John Scully, Michael Spindler, and Gil Amelio.
Originally published on Tech Times
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