From taking the reins after Steve Jobs in 2011, Tim Cook is nearing traditional retirement age and it's now time for a leadership change. With Cook having led Apple to become a multi-trillion dollar company in the tech industry, the next CEO transition in the leadership team could not only mean a shakeup for the company but for employees and shareholders as well.
Both institutional and individual investors admire Cook. Although Cook may not have made phenomenal innovative inventions like Jobs but he did make some of the contributions to the company.
Under Cook’s Leadership
With contributions like the Mac, iPod, iPhone, iPad, and Apple Watch, Cook definitely made product hits in the market. Yes, these products were further enhanced by Cook, but they did, however, made an empire in their respective markets. Each one of these contributions helped build Apple into becoming the world's first three trillion dollar company.
Firmly Fixed the Empire of Apple
This has firmly cemented Apple as an unshakeable force in the global tech market, which boasts several customers or takers of its product across many countries. A CEO transition could be one of the most terrifying experiences for everyone associated with the company. One or few stumbles in a modification could be ever so drastic. A CEO transition normally calls for a shift in the product vision or philosophy, which could drive once-loyal customers to rival brands.
Under Cook, Apple went from manufacturer of high-end devices to a vast, diverse tech giant with operations spanning from financial services to a television and film production studio that has received Oscar nominations. More than 100 companies have been acquired under his direction; these include the $3 billion acquisition of Beats in 2014 and the $1 billion purchase of Intel's smartphone modem division in 2019.
He places a strong thumb rule on expertise, reliability and long-term stability which reflects the company's reputation and its increased value in the eyes of the public.
As for his retirement, it’s rumoured that Cook might stay on for a while of about an additional two or five years, he also acknowledges that he could leave if life’s uncertainties were to happen. It’s not certain on who would be the next Apple CEO, but here are a few strong contenders bets have been placed on.
John Ternus, Senior Vice President of Hardware and Engineering
Stepping into Apple’s Product Design team in 2001, John Ternus is directly under Tim Cook's supervision. He has been in the Hardware Engineering's department as vice president since 2013. He has worked on the iPhone, iPad, Mac, AirPods, and other products' hardware. A lot of products were taken care of their intrinsic engineering details by the talented hands of John Ternus, including the most recent iPhone series, AirPods, and all iterations and versions of the iPad. He was a main player in overseeing the Mac's switch to Apple silicon.
Craig Federighi, SVP of Software Engineering
One of the most recognizable faces we see at most of Apple’s events is Craig Federighi for his keynote speeches. Federighi holds qualities that are crucial the leadership role at Apple. It’s believed that the board could likely pick anyone who has the ability to be the light of a show and that role fits noneother like Craig Federighi. Aside from being known for his stage presence, Federighi has overseen iOS and macOS and has proven essential to Apple's most successful products. Not just an expert at software, Federighi also has the eye to see how technology affects geopolitics, social cohesion, and privacy. Age also works in favor of the software SVP. Federighi would be 61 after Cook's departure, which not only means he is the youngest contestant, but the longest to hold on to the role if chosen.
Greg Jozwiak, the SVP of Worldwide Marketing
Greg Jozwiak, also known as Joz, has been in the company for over three decades now. He has been through the highs and lows of Apple. Having arrived after Jobs who was once let go, Jozwiak is perhaps familiar with the way how Apple works under its visionary leadership. He was also heavily involved in Apple's comeback after Jobs rejoined the company in 1997, which means his memory holds firsthand information of the company's success. Joswiak’s mega contributions have been the creation of the original iPhone and iPod, which made a big turning point for the company.
With an experience like Jozwiak, it’s expected that he would be able to nail what works and what doesn't for Apple, its clients, and its investors. This also means, Joswiak has a deeper grasp of Apple's story and how it positions itself to the outside world. Besides, its said that the most successful CEOs are one who give both employees and customers a consistent understanding of the company's goal and Joswiak appears to be the right candidate for that.
Eddy Cue, the SVP of Internet Software and Services and Phil Schiller, Apple’s Fellow (former Senior Vice President of Worldwide Marketing)
Both Phil Schiller and Eddy Cue have held prominent roles at Apple since Steve Jobs's tenure. As SVP of Internet Software and Services, Cue has been closely travelling with every aspect of Apple's services division. This high-level development center for the company is still expanding and is now one of its main revenue streams.
Schiller, on the other hand, is known for his work on products and marketing at Apple for 30 years. He is also involved in extremely important matters of the Apple empire as the man in charge of Apple Events and the App Store. The fact that Schiller is an Apple Fellow, with a smaller responsibility within the company, rather than an SVP, could work to his advantage. He could slide into the CEO role at ease without upsetting the other executives.
Even while Apple's internal list of potential successors probably includes these four possibilities, it's important to remember that the board isn't obligated to elevate an employee. The board has the authority to choose a CEO who is not from Cupertino. But doing so might have disastrous effects for Apple's devoted client base, staff, and investors.
At least under Jobs and Cook, Apple has always had a unified vision and culture. It's difficult to understand how a new individual could simply blend into a setting with such great history and intricate details.