Kumar Utkarsh
Kumar Utkarsh is a journalist, technology observer, and cricket enthusiast with over three years of experience in the media industry. Currently serving as a Sub-Editor at India Dot Com English, he cov ... Read More
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Tim Cook will be staying on as Apple’s Chief Executive Officer (CEO) until at least mid-2026, according to Bloomberg’s Mark Gurman.
His “Power On” newsletter debunks rumors that he might be stepping down much sooner than previously expected. A Wall Street Journal report in December, for instance, said that a new CEO would be announced at the end of 2025 in line with Apple’s next earnings cycle.
Gurman reports that the prospect of Cook stepping down “appears to have been elevated in recent months,” but that there are “few signs internally” that this will occur.
Cook will be 66 in the middle of next year, but has no plans to retire, the Bloomberg report claims. Apple is content to wait for a leader with Cook’s calibre.
Cook assumed the CEO role in 2011 and has overseen Apple’s market capitalisation increase from about US $350 billion to about US $4 trillion.
Gurman named the likely successor as Ternus, Apple’s senior vice president of hardware engineering, and a man well-positioned to take the CEO role.
He is the youngest member of Apple’s senior management, so he has time, and his role overseeing Apple’s hardware vision makes sense as one of the company’s strategic pillars is hardware.
A Bloomberg report from December further noted that it’s not a question of when Apple might announce Ternus as CEO, but when a new hardware platform will be announced. The company is expected to do that before deciding when to name a new CEO.
Gurman wrote that Apple’s next platform launch may be delayed to after a CEO transition. That could offer the company more time to fully deliver on new products that will be the responsibility of a new CEO. The next three years, he added, would be unlikely to see this happen.
That means Apple will likely need to announce a new leader before the launch of the next significant hardware platform, be that Mac, iPhone, or iPad.
That being said, Apple also reportedly wants to make the transition to a new leader to be a smooth one, so this could mean that the company will stagger the process, moving someone like Ternus into a new role above Cook to ease the transition, as Gurman did before.
After all, this is a company where the current CEO has a market capitalisation higher than most companies in the world, and he has overseen the development of a number of groundbreaking technologies. No one is going to replace Cook unless they are ready, and Apple is going to make sure they are.
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