Lates News

According to the Financial Times, Apple (AAPL.O) is stepping up its succession plan to prepare for Tim Cook's possible resignation as CEO as early as next year. Multiple sources familiar with internal discussions at the company revealed that Apple's board of directors and senior management have recently accelerated preparations to welcome Cook's resignation. John Ternus, Apple's Senior Vice President of Hardware Engineering, is widely seen as the most likely successor to Cook, but a final decision has not yet been made. Individuals close to Apple have stated that this long-awaited transition is not due to the company's current performance, as iPhone sales at the end of this year are expected to be very strong. If the successor is announced early next year, the new leadership team will have time to establish themselves before Apple's important annual events, including the June Worldwide Developers Conference (WWDC) and the September iPhone launch.