Tim Cook’s time at Apple could be coming to an end, report says

The end of an era is coming in 2026 for Apple – maybe?

According to a new report from the Financial Times, Apple is currently making plans for Tim Cook to step down as CEO. And it could be happening next year.

Apple's plans are not related to performance issues or any sort of negative outlook for the company, according to the outlet's sources. In fact, Apple is expecting to break sales records this holiday season.

Cook has been CEO of Apple for nearly a decade and a half and led the company during one of its most trying times. He took over the position after Apple founder Steve Jobs stepped down as CEO in August 2011 due to medical reasons. Jobs died in October of that year. 

John Ternus, Apple's Senior Vice President of Hardware Engineers, is considered the likely favorite to take over the reins from Cook. However, no final decision of a new Apple CEO has been made. Ternus has been with the company since 2001 and would be the same age, 50, as Cook was when he became CEO 14 years ago. 

Ternus has been more visible as of late at the Apple keynote events, potentially being prepared to eventually step in as CEO. He most recently introduced the new iPhone Air at September's Apple event.

As the Financial Times points out, Cook has previously shared that Apple has “very detailed succession plans." Apple has lost some key executives this year as both Apple's chief financial officer Luca Maestri and Apple's chief operating officer Jeff Williams left the company. Both were considered close to Cook.

Bloomberg's Apple insider Mark Gurman previously reported that Ternus was being looked at as Tim Cook's successor. However, in response to the Financial Times report, Gurman shared that there is nothing on his radar pointing to Cook stepping down anytime soon.

But, if Cook was to step down as Apple CEO next year, don't expect him to do so before the earnings report in January 2026, which would cover how the company did during the holiday season, according to the Financial Times. However, anytime after the earnings report appears to be fair game and an early transition would get the CEO comfortable before Apple's big keynote events, starting with the WWDC in June.