Tim Cook’s Succession (I): This Is the Legacy He’ll Leave Behind as Apple’s CEO
- Cook is set to leave Apple after transforming it into the world’s most valuable company.
- His successor will inherit a diversified organization facing regulation, innovation, and competition challenges.
- Several internal candidates are vying for the position, with John Ternus, Apple’s senior VP of hardware engineering, being the favorite.
When Cook became Apple’s CEO in the summer of 2011, the company faced a very different situation:
By contrast, today, Apple is:
Cook has hinted at his retirement in recent years, and his age–he’ll turn 64 in November–suggests that this change is nearing.
While it’s unclear if his departure will happen this year, next year, or the year after, he said in 2021 that he wouldn’t remain at the helm of Apple for another ten years: “Ten more years? Probably not. I can tell you that I feel great right now. And the date’s not in sight. But 10 more years is a long time, and probably not 10 more years.”
When the time comes, it’ll signify the end of an era. Cook will step down, leaving behind an indelible mark on Apple, which has become the most valuable company in the world, surpassing a $3 trillion market capitalization under his leadership.
His successor will inherit a transformed technology giant, facing numerous challenges in a much-changed landscape at the same time. The successor will need to maintain the delicate balance between innovation and stability that defines Apple’s success.
Unprecedented financial growth: