Who will succeed Tim Cook as Apple's next CEO?
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Apple CEO Tim Cook has been supporting Apple for over 10 years, announcing new product categories and new businesses such as the Apple Watch since taking office in 2011. Bloomberg, an overseas media outlet, is speculating on who will succeed Cook as Apple's next CEO.
Apple's Next CEO: List of AAPL Insiders Who Could Succeed Tim Cook - Bloomberg
https://www.bloomberg.com/news/articles/2024-05-08/apple-s-next-ceo-list-of-aapl-insiders-who-could-succeed-tim-cook
Cook has led Apple for more than a decade since succeeding Steve Jobs , and at 63 years old as of the time of writing, he is older than many of his peers.
Therefore, it is logical to assume that Cook is planning for the next CEO to be entrusted with Apple's future, but Bloomberg points out that it is difficult to imagine someone who can take the position of the next CEO right now. Apple's management team has remained almost unchanged since Cook took office, except for the departure of designer Jonathan Ive and former retail vice president Angela Ahrendts , and the key people in his entourage are so old that it would not be surprising if they had retired several years ago.
Tony Sacconaghi, an analyst at investment firm Bernstein, said Apple's succession issue has become a hot topic among investors. 'When you look at the executive list, it doesn't make sense, and it makes you wonder why there hasn't been more transparency and visibility into the next leader. This raises the broader question: Does Apple have a comprehensive and thoughtful succession plan?' Sacconaghi said.
In a November 2023 interview on singer Dua Lipa 's podcast, Cook gave his most detailed comments about his successor. 'I could be dead tomorrow. My job is to make sure that someone has the ability to be a successful successor, and I want that person to come from within Apple. My role is to make sure that the board has the ability to choose the next CEO from a group of candidates,' Cook said.
According to multiple people familiar with Apple's internal affairs, if Cook were to step down immediately, his replacement would almost certainly be chief operating officer
Williams emerged several years ago as a leading candidate to succeed Cook, but at 61 as of press time, he's just two years younger than Cook. Apple's board is expected to want a CEO who will stay in the position for 10 years or more, and Williams' age would be a sticking point. 'If you asked me five years ago, it was pretty clear that Jeff was the front-runner to be the next CEO,' one Apple executive told Bloomberg.
Cook is certainly older than the average CEO of a Fortune 500 company, but it's not uncommon for CEOs to be older than him. Cook hasn't said how long he plans to remain CEO, but people close to him say they expect him to continue for at least another three years.
If Cook remains CEO for another few years, Bloomberg claims that the most likely successor is John Tarnus, senior vice president of hardware engineering. For Apple, which has had success building gadgets, it makes sense for a hardware engineering expert to become CEO, and the fact that he's under 50 at the time of writing makes him appealing.
Tarnus has excellent presentation skills, a gentle personality, does not write controversial things in his emails, and is a very quiet decision-maker, which is why he is respected by leaders such as Cook and Williams. Bloomberg says that he is well-liked within the company because of his deep involvement in product development and his direct communication with engineers, as well as his solid results in the roles he has assumed.
On the other hand, some inside Apple have questioned his ability as an innovator, given that he has not been heavily involved in recent ambitious projects such as Apple Vision Pro. An anonymous source close to Apple told Bloomberg that the problem with Tarnus is that he has a low profile and needs to be more assertive.
In recent years, Mr. Tarnus has been appearing more frequently, and he made a presentation at Apple's new product launch event held in May 2024.
Other candidates besides Tarnas include Craig Federighi , head of software engineering, who is familiar with internal issues, and Deirdre O'Brien , head of retail, who is a confidant of Cook. Bloomberg also said that Apple may undergo a major shake-up of its management team in the coming years, as not only the CEO but also other key executives are nearing the end of their terms.
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