On November 16, according to CCTV Finance, citing multiple foreign media reports, Apple Inc. Apple CEO Tim Cook may step down as early as next year, and the company is currently intensifying its search for a successor. John Ternus, the current senior vice president of hardware engineering, is widely regarded as the most likely successor.
As of now, Apple has not responded to this matter.
According to a report by CCTV Finance citing Bloomberg News, it was reported in early October that Apple CEO Tim Cook might step down within the next one to two years. On November 14th, the Financial Times, citing sources familiar with the matter, reported that Apple's board of directors and senior management are currently working diligently to prepare for the handover of responsibilities after Cook's departure. The report also stated that Cook is unlikely to step down before the release of Apple's next quarterly financial report, that is, before the end of January next year.
Tim Cook, 65, was appointed Chief Operating Officer (COO) by Apple founder and CEO Steve Jobs in 1998; he became Apple's CEO in 2011 and has served for 14 years. In Walter Isaacson's biography of Steve Jobs, Cook is described as very determined and calm.
Foreign media speculate that John Tenus, Apple's current senior vice president of hardware engineering, is the most likely successor. Tenus is 50 years old, similar in age to Tim Cook when he became CEO.
Tenus joined Apple's product design team in 2001 and currently leads core hardware product lines such as iPhone, iPad, and Mac. He has frequently appeared on Apple's product launch stage in recent years and is regarded as a representative of the new generation of core executives.
Some analysts point out that Tenus's technical background and areas of expertise align with Apple's current need to shift its focus from developing its ecosystem to emphasizing hardware technology.
Apple has recently seen frequent management reshuffles. In July, former COO Jeff Williams announced his retirement. Furthermore, Luca Maestri, Apple's longtime CFO, has also left the company. The rapid changes in the COO and CFO positions, coupled with the accelerated CEO succession planning, indicate that Apple is undergoing an unprecedented management overhaul.
Media reports indicate that several more senior executives at Apple are expected to leave or retire next year, marking the largest personnel reshuffle Apple has faced in over a decade.
Despite ongoing controversies surrounding a perceived lack of innovation under Tim Cook, his leadership has undeniably brought Apple tremendous commercial success. Cook's approach to Apple has resulted in exceptional supply chain control, rapid growth in its services business, and the successful launch of entirely new product categories such as the Apple Watch, AirPods, and the M-series chips.
According to its financial reports, in fiscal year 2011 (ending October 19th of that year), Apple's total revenue was $108.249 billion, and its net profit attributable to shareholders was $25.922 billion. Fourteen years later, in fiscal year 2025 (ending October 31st), Apple's total revenue was $416.161 billion, and its net profit attributable to shareholders was $112.01 billion, approximately four times that of 2011.
In the capital markets, Apple's market capitalization has soared in recent years. As of the US stock market close on November 17, Apple's stock price was $272.41, with a market capitalization of $4.03 trillion, making Apple the third largest market capitalization after Nvidia. and Microsoft Subsequently, it became the third company on the US stock market to enter the "$4 trillion" club.
(Article source: Jiemian News)
