Apple may appoint a new CEO next year

Apple is reportedly looking to secure a new CEO as early as next year. Tim Cook is currently the longest-reigning CEO in the company's history, surpassing Steve Jobs' 5,090 days in August this year. 

The Financial Times is reporting that the company is ramping up its succession efforts, preparing to appoint a new CEO as early as January 2026. The change has apparently been planned for years, and the company is eyeing John Ternus, Apple's senior vice president of hardware engineering, for the position. 

Ternus has been with the company since 2001, joining as part of the product design team and transitioning to senior vice president of hardware engineering in 2021. He was put in charge of Apple Watch hardware in late 2022. He also handles the company's Mac and iPad presentations at WWDC. 

According to the report, the shift isn't tied to Apple's current performance. The company is set to introduce a new CEO before its late January earnings report for a smooth transition.

Last year, there was similar talk of John Ternus being a potential successor, with Bloomberg's Mark Gurman reporting that Ternus was well-liked by executives and Apple's chief operating officer, Jeff Williams, and software head Craig Federighi were unlikely to be candidates.   

Under Cook's leadership, Apple's market cap has grown to a staggering $4 trillion. Apple achieved the milestone on the back of strong sales of the iPhone 17 series.