Tim Cook May Step Down as Apple CEO
Business
Apple CEO Tim Cook may step down after more than a decade leading the company, Bloomberg reported, citing journalist Mark Gurman.
According to the publication, Cook, who turns 65 on November 1, is considering retirement but is unlikely to leave Apple entirely.
Bloomberg notes that after stepping down, Tim Cook is expected to remain involved in the company’s strategic affairs and could take on the role of chairman of the board of directors.
Mark Gurman identified John Ternus, Apple’s Senior Vice President of Hardware Engineering, as the leading candidate to succeed Cook as CEO.
Tim Cook has served as Apple’s chief executive since 2011, succeeding Steve Jobs. Under his leadership, the company expanded its product lineup and became one of the most valuable corporations in the world by market capitalization.
Apple has not yet commented on reports of a potential leadership change, though sources told Bloomberg that succession planning has been under discussion for several years.
Bloomberg notes that after stepping down, Tim Cook is expected to remain involved in the company’s strategic affairs and could take on the role of chairman of the board of directors.
Mark Gurman identified John Ternus, Apple’s Senior Vice President of Hardware Engineering, as the leading candidate to succeed Cook as CEO.
Tim Cook has served as Apple’s chief executive since 2011, succeeding Steve Jobs. Under his leadership, the company expanded its product lineup and became one of the most valuable corporations in the world by market capitalization.
Apple has not yet commented on reports of a potential leadership change, though sources told Bloomberg that succession planning has been under discussion for several years.
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