A bombshell report from the Financial Times reveals that Tim Cook may step down as Apple’s CEO as early as next year. Consequently, Apple has been accelerating its succession planning, actively considering potential candidates for the top leadership role.
The leading contender to succeed Cook is John Ternus, Apple’s Senior Vice President of Hardware Engineering. Ternus, a longtime Apple veteran, joined the company’s prestigious Product Design team in 2001. Throughout his tenure, he has overseen hardware engineering across key product lines, including the iPad, iPhone, and AirPods. Ternus also played a pivotal role in the Mac’s transition to Apple silicon—a landmark project similar to the one Cook championed before becoming CEO, when he led the shift from PowerPC to Intel processors.
While no definitive decision has been made about Tim Cook’s successor, an announcement is anticipated sometime in early 2026. This timing would allow the new CEO ample runway to settle in ahead of Apple’s critical annual events like the Worldwide Developers Conference in June and the iPhone launch in September.
Why might Tim Cook step down?
Despite rumors, the reasons behind a possible 2026 departure remain unclear. After all, Apple is arguably thriving like never before. The company continues to generate record-breaking revenues and consistently improves its device lineup year after year. Under Cook’s leadership, Apple has diversified its revenue streams, reducing reliance on iPhone sales alone. For instance, the services division now earns more annually than major players like Tesla and Disney combined, contributing $28.75 billion in the latest quarter alone, with an expected 15% growth in 2026.
Currently, Apple shares are trading at an all-time high. The company also boasts an exciting product pipeline, including a rumored foldable iPhone expected within the next two years, which could further boost sales and profitability.
In light of these successes, Cook’s decision to step down might be a strategic choice to exit while Apple is performing at its peak. Rather than departing amid turmoil or setbacks, he may prefer to hand over the reins during a time of strength, ensuring a smooth transition to the next era of Apple innovation.
