November 22, 2023, 2:09 pm | Read time: 4 minutes
In an interview with singer Dua Lipa, Apple CEO Tim Cook discusses his career path, daily fitness routines, and future plans for Apple and himself. Arranging his succession is particularly important to him.
There has been frequent speculation about how long Tim Cook will remain as Apple’s CEO. After more than 12 years at the helm of the world’s most valuable company, the 63-year-old has certainly earned his retirement. In a BBC interview conducted by singer Dua Lipa, Cook reveals some details that fuel expectations and speculation about his succession.
Cook’s Career Path and Jobs’ Legacy
Even before becoming CEO, Tim Cook was on board as Apple’s Chief Operating Officer, responsible for global sales, including supply chain management and customer service. He also led the Macintosh division and frequently stood in for then-CEO Steve Jobs when he was absent for health reasons. On August 24, 2011, Jobs officially handed the CEO position to Cook, which came as quite a surprise to many industry observers.
Since then, it has not only been Cook’s task to fill Steve Jobs’ big shoes. He also made his own mark by advancing the expansion of the services business and the company’s commitment to climate protection. Because the Apple CEO has such a significant influence on the entire company, industry observers, customers, and investors pay close attention to Cook’s succession. However, Cook left open when he plans to pass the baton. The change is certainly not imminent. “I love Apple, I can’t imagine my life without being there, so I’ll be there for a while,” he told Dua Lipa.
The Best Time for Retirement
However, Cook announced in 2021 that he probably wouldn’t be working at Apple in ten years. Interestingly, Apple aims to be carbon neutral by 2030. This includes making every product carbon neutral–including its global supply chain and throughout its entire lifecycle. Since Cook is much more interested in Apple’s climate responsibility than his predecessor Jobs, he may want to stay with the company until this goal is achieved.
Another plausible year for Cook’s departure is 2025. On one hand, according to the current contract, the disbursement of company shares to Cook ends that year. On the other hand, he would be 65–a good retirement age–and would have led the introduction of a new product category with the Vision Pro. Because that’s what Cook’s era still lacks: a revolutionary product of his own. Steve Jobs regularly pulled a “One more thing” out of the hat that turned entire industries upside down: the iMac in 1999, the iPod and iTunes music service in 2001, the revolutionary iPhone in 2007, and the iPad in 2010. On the other hand, several successful generations of Apple Watches and AirPods have grown under Cook.
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What Cook particularly emphasizes in the interview with Dua Lipa is the fact that there are “very detailed succession plans.” The company is well-prepared for an unforeseen absence of the current CEO–as well as for his planned departure. However, Cook did not reveal who exactly is being considered for his succession.
He made one thing clear: If it were up to him, the new CEO should definitely come from within Apple. This contradicts earlier rumors that speculated about an external replacement. Cook also revealed that he is preparing several people for the role of Apple CEO. When the time comes, the board will be able to choose a person from this group.
Several Successors in Play
The hottest candidate for Cook’s succession is currently John Ternus, Senior Vice President of Hardware Engineering. But Craig Federighi is also still in the running. The Senior Vice President of Software Engineering is responsible for the iOS and macOS operating systems. Born in 1969, Federighi would at least have a timely perspective on the CEO job. However, he dismissed earlier rumors by stating that he feels very comfortable in his current role. How much this statement will be worth in the future is questionable. After all, the appearance of an internal power struggle would not make a good impression, even if Federighi actually had ambitions.
Other people who are also frequently discussed include Senior Vice President of Services Eddy Cue and Marketing Chief Greg Joswiak. The list goes on, and there is still plenty of material for potential rumors.
But one thing is also clear in the interview with Dua Lipa: Tim Cook is still fit (thanks to daily gym visits) and very willing to continue leading Apple. This also involves dealing with–more or less new–challenges such as climate change and AI.