Gurman: ‘Few signs internally’ point to Tim Cook stepping down as CEO early next year

Recently, the Financial Times reported that efforts to set up a succession plan for Apple CEO Tim Cook have ‘recently intensified’, and that the transition could happen as ‘early as next year,’ potentially even happening sometime in the spring.

Today, in his Power On newsletter, Bloomberg’s Mark Gurman claimed this story to likely be “simply false,” and that the moment is “not at hand.”

Apple CEO Tim Cook has served the company for quite some time, and has brought Apple to new heights since his tenure as CEO begun back in 2011. Apple has grown from a $350B company to well over $4T under his leadership.

Due to this fact, Gurman points out that that Cook has “earned the right” to decide his own future. Simply put, unless something rapidly changes, Tim Cook will not be forced out. Gurman reports that there are “few signs internally” that Tim Cook is about to transition out of his role.

Gurman highlights that the reporting from the Financial Times comes with much significance, given the publication’s significant track record. This reporting only would’ve come if they had high confidence. Other’s have also pointed out that the FT’s 330-word story on Tim Cook’s retirement has four authors bylined on it. That isn’t typical to say the least.

Some have floated the theory of the story being a “test balloon,” meaning that Apple themselves potentially put the information out there to test the market’s reaction. Gurman reports that “isn’t the case either.”

Regardless, when Apple CEO Tim Cook steps down, it’s highly likely that hardware SVP John Ternus will serve as his replacement. The transition isn’t imminent, though, per Bloomberg.

My favorite Apple accessory recommendations:

• Anker MagSafe/Qi2 Ultra-Slim Battery Pack
• Apple 40W Dynamic Power Adapter with 60W Max
• MOFT MagSafe Wallet Stand, fits up to 3 cards
• Logitech MX Master 4 Mouse for Mac
• ESR CryoBoost 3-in-1 25W MagSafe Charging Stand
• AirPods Pro 3 (2x ANC vs AirPods Pro 2!)

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