Apple CEO Tim Cook reportedly plans to step down

Apple CEO Tim Cook is reportedly stepping down from his long-serving chief executive officer position. According to rumours surfacing, Apple has already started internal discussions regarding succession, signalling a potential major leadership transition in the tech giant.

Cook has led Apple since 2011 after replacing former co-founder Steve Jobs. He is one of the longest-running chief executives in Silicon Valley, making any leadership change one of the closely watched developments for investors and the wider technology industry.

According to The New York Times, succession planning for Cook has been underway inside Apple since late last year. According to the leaks, three people briefed on the matter are cited as saying Cook has told senior executives he feels overextended by his responsibilities.

Who replaces Tim Cook if he steps down?

If Cook retires as chief executive, he is expected to remain closely involved with the company. The report says he may seek to become chairman of Apple's board, a role that would enable him to retain influence without the burden of day-to-day operational pressure.

Moreover, Apple is lining up several in-house leaders as possible successors, with none coming from outside the organisation. Those who are viewed as potential successors include Apple Senior Vice President of Software Engineering Craig Federighi, Senior Vice President of Services Eddy Cue, Senior Vice President of Worldwide Marketing Greg Joswiak, and Senior Vice President of Retail and People Deirdre O’Brien.

However, on top of them, the one competitor who is likely to replace Tim Cook is Senior Vice President of Hardware Engineering John Ternus. Ternus became a part of Apple in the year 2001. During his time at the corporation, he has been managing the hardware side of important products such as iPhones, iPads, and AirPods, along with Mac computers.