According to a report recently published by the prestigious publication Financial Times, Apple has significantly accelerated the planning process for choosing the successor of Tim Cook, its current CEO. Sources close to the company have revealed that Apple’s board and senior executives have recently stepped up their efforts to manage the transition of power at the top of the tech giant. The report speculates that this major management change could happen “as early as next year,” though it stressed that the final timeline is still uncertain and could change.
Currently, John Ternos, Apple’s senior vice president of hardware engineering, is the most likely candidate to replace Tim Cook. However, informed sources have emphasized that no final decision has been taken in this regard yet. The report also states that the acceleration of the succession process has nothing to do with the company’s current performance. Apple is on the cusp of a bumper iPhone sales season at the end of the year, and this power shift is part of long-term planning. Apple is not expected to name a new CEO before its quarterly earnings report in late January, which covers the crucial holiday period.
The announcement comes just hours after former COO Jeff Williams’ last day at Apple. Williams, who announced his retirement in July, previously handed over operational responsibilities to Sabih Khan, and his other duties have recently been distributed among senior executives, including John Ternos. In addition, Apple has recently seen another power transfer in its financial department; where longtime CFO Luca Maestri stepped down and was replaced by Kwan Parekh, previously VP of Financial Planning and Analysis. These successive changes at the management level indicate a planned transition period in Apple’s leadership structure.
Source: 9To5Mac
Latest Passing over countries : Spain | Dominica | United Arab Emirates
RCO NEWS
