Who is most likely to replace Tim Cook as Apple steps up succession plan?

Apple is intensifying its succession planning efforts as Tim Cook prepares to step down as CEO as early as next year, according to a report by the Financial Times on Friday.

Cook took over as CEO in 2011 after Steve Jobs stepped down, marking the end of his leadership at the technology company he co-founded in a garage.

The iPhone manufacturer is unlikely to name a new CEO until after its next earnings report in late January, which includes the important holiday season period, the report said.

Who is likely to succeed Tim Cook?

John Ternus, Apple's senior vice president of hardware engineering, is potentially seen as Cook's successor, the FT reported, citing several people familiar with discussions.

Who is John Ternus?

John Ternus is currently serving as Apple’s senior vice president of Hardware Engineering, reporting directly to CEO Tim Cook. He oversees all hardware engineering operations, including teams working on the iPhone, iPad, Mac, AirPods, and more.

John joined Apple’s Product Design team in 2001 and has served as vice president of Hardware Engineering since 2013. During his time at Apple, he has led hardware engineering for numerous products, including all iPad generations and models, the newest iPhone series, and AirPods.

Before joining Apple, John worked as a mechanical engineer at Virtual Research Systems. He holds a bachelor’s degree in Mechanical Engineering from the University of Pennsylvania.

Tim Cook to resign?

Reports of Cook's resignation emerged after Apple's CEO turned 65 this year. Neither Tim Cook nor Apple have officially announced CEO's resignation plans.

Last year, Tim Cook answered the question of how long he plans to continue leading one of the world's most valuable technology companies. In an interview with Wired, Cook said he plans to continue until he feels it is time to leave the company.

“I get asked that question now more than I used to," Cook said. Further answering the question, he said, “I love this place, Steven. It's a privilege of a lifetime to be here. And I'll do it until the voice in my head says, “It's time,” and then I'll go and focus on what the next chapter looks like,” the Apple CEO said.