Rumors have been circulating for the past few weeks that Apple CEO Tim Cook is planning to leave his role after more than a decade at the helm. Now, according to reports, Cook has informed senior Apple leaders that he will soon step down from the role of CEO, but will continue in the new role at the company. And Cook’s replacement is said to be already underway.

Tim Cook will step down as Apple CEO

According to the New York Times, Tim Cook has informed company leaders that he wants to reduce his workload. This step has been taken ahead of Apple’s upcoming shareholders meeting to be held on February 24, 2026. He has led Apple since 2011. During his tenure as CEO, the company’s valuation has increased from $350 billion to more than $4 trillion. The report said Cook, now 65, will likely remain at Apple as chairman of the board.

Who can replace Tim Cook at Apple?

Senior Apple executives are planning the company’s era after Tim Cook. The Cupertino giant is discussing internally who could be the successor to the 65-year-old player. One name gaining popularity is Apple’s hardware engineering chief John Ternes, whose steady style and long tenure have made him the front runner.

John Ternes is known for some notable decisions, he joined Apple in 2001. He has been critical of Apple’s recent products, including the iPhone Air. At 50, Ternes is the same age as Tim Cook when he became CEO. He is also said to share key qualities with Cook, including a reputation for collaboration and deep knowledge of Apple’s supply chain.

While Ternes is seen as the leading internal candidate, his rise has sparked debate internally over whether the company would benefit more from a stable manager in the mold of Cook, or a risk-taker reminiscent of Steve Jobs. Apple’s succession planning reportedly includes a wide-ranging group – including software chief Craig Federighi, services chief Eddy Cue, head of worldwide marketing Greg Joswiak and retail chief Deirdre O’Brien.