Since taking over as CEO of Steve Jobs in 2011DodonpachidaioujouCook led Apple in its transformation, launching not only new product categories such as smartwatches, but also new businesses such as streaming video, a bold attempt to mainstream new computing such as mixed reality.DodonpachidaioujouHe has been in office much longer than the average CEO of a Fortune 500 company and is 63 years older than many of his peers. In theory, it is time for Cook to start training successors, but the actual situation is so complicated that there is no talent that can be taken over immediately and can be used for a long time.
Cook hasn't made many changes to Apple's management team, mainly close comrades-in-arms who have worked with him since the Jobs era. Apart from the high-profile departure of designer Jony Ive and the departure of retail head Angela Ahrendts after joining the company for a few years, the rest of the team has remained largely unchanged over the past decade. The main members of Cook's inner circle are as old and rich as he is, and could have retired years ago.
Apple is busy with things at the moment. The company is currently under regulatory scrutiny in the United States and the European Union, smartphone sales are declining, and while demand for the iPhone in China is weak, Apple is gradually expanding production outside China. In addition, there has always been a need to develop popular style products. Cook's successor faces a decisive challenge after Apple released the Vision Pro and abandoned its electric car plan.
In an interview with a podcast last November, Cook made the most in-depth discussion so far on the issue of successors. "my job is to make some people have the ability to take over, and I really want this person to come from within the company," he said. So my job is to make sure there are several options for the board to choose from. " He did not disclose who these people were, but said the plan was "very detailed".
Full of ambition
Toni Sacconaghi is an analyst at Sanford C Bernstein who has studied Apple for 20 years. He said the choice of successors has become a topic of concern for investors. "from the list of executives, it's really not clear how it's going to go," he said. "people want to know why Apple is not transparent and exposed enough about its next successor, and they will naturally ask if there is a comprehensive succession plan."
Several people familiar with Apple's internal operations recently discussed the issue with Bloomberg Businessweek. They spoke on the condition of anonymity because of sensitive matters. If Cook resigns soon, he will almost certainly be replaced by Jeff Williams, chief operating officer, who was the most popular candidate to succeed him a few years ago, these people said.
But Williams is also 61 years old, only two years younger than Cook. Company insiders say he is unlikely to be a long-term candidate for chief executive at the moment. Apple's board may want an executive who can stay on for at least another decade, like Cook and Jobs. "if you had asked me five years ago, I would have said that Jeff Williams was the best candidate," said one executive who has worked at Apple for many years. "but the change of top management in the company is too slow, so who can join is a question."
Of course, this does not mean that there will be an immediate replacement. Cook may be older than the CEO of the tech giants in the S & P 500, but he is not the oldest person to run a big company. "if Trump or Biden can be president at the age of 80, Cook could be CEO at Apple for many years. In the past, when CEO was 65, he would naturally step down, "said one person who knew Williams." the world has changed. "
Although Mr Cook did not say how long he would stay at the helm, he said on the podcast that he would serve "for a while", but people close to him believe he will remain chief executive for at least another three years. After leaving office, Cook will set up a charitable foundation to donate the wealth he has accumulated at Apple, they said.
Potential candidate
Apple insiders say that if Cook really stays that long, the most likely successor is John Ternus, the head of hardware engineering. In a company that has always led the industry by building fashionable products, it seems logical for a hardware engineering expert to be the chief executive. Ternus, who is less than 50 years old, is more likely to stay for a long time than the rest of the executive team, possibly as smoothly as Cook for another decade or more.
Ternus is popular within Apple and has won the respect of Cook, Williams and other leaders. "Cook likes him very much, he is a good speaker, he is very well-mannered, he never discusses controversial issues in emails, and he is a reticent decision maker," said one person close to Apple's executive team. "he has a lot of management qualities like Cook," said Christopher Stringer, a former top Apple hardware designer. "Ternus is very trustworthy and has never failed in any position he has been promoted." Eddy Cue, an Apple executive who is close to Cook, privately told colleagues that Ternus should be the next chief executive, according to a person familiar with the matter.
Apple is also making Ternus more public to introduce new products. At the iPad launch on May 7th, Ternus took the lead by introducing the new iPad Pro and iPad Air. Last year he traveled to Europe to discuss the company's environmental initiatives, which would have been Cook's priority area. But perhaps what really made Ternus famous was a 30-minute TV interview about chips last December. "they let Ternus talk about things that don't even belong to his old business on morning TV, but they are king," says a former executive who has worked at Apple for a long time.