Tim Cook, Apple’s current CEO, may step down as CEO of the technology company next year. The board of directors and senior executives of the tech giant have reportedly been searching for a successor for some time and are currently intensifying the search, according to the British business newspaper
Financial Times, citing sources within the company.
Cook has been at the helm of the American tech company since 2011. He took over from co-founder Steve Jobs a few months before Jobs’ death. Under Cook’s leadership, Apple’s market capitalization grew from $350 billion in 2011 to a little over $4 trillion this year.
John Ternus, Apple’s current senior vice president of hardware engineering, is considered the most likely contender to succeed Cook. However, according to sources at the Financial Times, no definitive agreements have yet been made.
