There have been some big changes at Apple recently, and this news may be the biggest. According to the Financial Times, Apple CEO Tim Cook may leave his post as soon as next year, and the company's board of directors has begun to seriously formulate a succession plan. According to reports, John Ternus, Apple’s senior vice president of hardware engineering, is currently considered a favorite to take over the position.
Cook recently turned 65 and has been CEO for 14 years. Under his leadership, Apple has experienced tremendous growth and plenty of controversy. He is widely regarded as a key figure in driving Apple's transition to outsourced manufacturing, a strategy that has allowed Apple to operate at a scale far greater than before.
Rumors about Cook's imminent departure stem from the recent announcement of Apple's chief operating officer Jeff Williams' retirement, whose last working day ended last Friday. The personnel changes are accompanied by changes in senior responsibilities, including services business leader Eddy Cue (Eddy Cue), software engineering leader Craig Federighi (Craig Federighi), and the expansion of Ternus' responsibilities.
Regardless of who ultimately takes over as CEO, the likelihood of an outsider being selected is low. Cook has said that the company is very inclined to choose internal candidates and that Apple has a "very detailed succession plan."