Apple is reportedly gearing up for one of its biggest leadership shifts in over a decade. According to a Financial Times report, the company is preparing for Tim Cook to step down as CEO as early as next year, potentially moving him into the role of chairman of the board instead of retiring completely. If the move happens, it would mark the beginning of Apple’s long-awaited succession plan.
Why now: Apple’s age policy nudges the timeline
The timing is being driven partly by Apple’s own rules. Current chairman Arthur D Levinson turned 75 in March, hitting the age limit set by Apple’s Corporate Governance Guidelines, which state that directors cannot stand for re-election after 75. Levinson’s term ends ahead of Apple’s next shareholder meeting, typically held in late February or early March.
If Apple sticks to its policy, the chairman seat will be vacant — and Cook, now 65, is the most likely candidate to fill it. In that role, he could continue serving for up to another decade.
How an announcement could unfold
While Apple is unlikely to reveal a new CEO before its late-January earnings, any chairman transition would need to appear in the proxy filing released in mid-January. That makes the exact sequencing slightly tricky, but analysts say Apple could announce Levinson’s departure due to the age rule and simultaneously confirm Cook as chairman.
What remains unclear is whether Cook would become a non-executive chairman, focusing on governance, or an executive chairman, staying more involved in day-to-day decision-making to smooth the handover.
Who replaces Cook as CEO?
All eyes are on John Ternus, Apple’s Senior Vice President of Hardware Engineering. He is widely viewed as the leading internal successor and has steadily risen in visibility over the last few years.
Not a done deal — but signals are strong
Apple could still choose to waive the age limit, as it did last year for 77-year-old director Ron Sugar, or appoint a different chairman. Yet with Cook at the traditional retirement age and Levinson crossing the policy line, many observers believe Apple is gently preparing the market for the transition — potentially even feeding the FT report to soften the impact.
Cook, who has led Apple since 2011, is closing in on 15 years as CEO. If the reporting proves accurate, it could mark the beginning of Apple’s next era.
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