Apple's board may accelerate a major decision that could impact the company's direction in 2026.
These might be Tim Cook's last few months as CEO.
The announcement of a new CEO will probably occur after the next earnings report in late January. Announcing early in the year would give the company space before events such as the developer conference in June and the iPhone 18 launch in September.
Although Ternus is the frontrunner for the CEO position, the decision remains unconfirmed. Leadership transition efforts have increased, however, the announcement could be delayed.
Ternus's appointment would mean a hardware executive leading again, which is vital given Apple's performance lately.
Tim Cook cannot stay in his position forever. His tenure as CEO is already longer than average for Fortune 500 CEOs, and at 65, it is a reasonable time to make way for someone else. Chief Operating Officer Jeff Williams was a potential candidate, but he is leaving this year.
Apple prefers internal promotions, but recent and upcoming departures have narrowed their options. Despite Apple's growth under Cook, the company hasn't achieved any major breakthroughs, making a technologist like Ternus a sensible choice.
At 50, Ternus is the same age Cook was when he became CEO, suggesting he could remain for a decade or more. He is well-regarded within Apple and has been involved in important company decisions.
Ternus is known for a cautious approach, lacking bold moves. While a hardware head could help create the next big product, Ternus may not deliver that. He is not known as an innovator, and while he can be credited with the iPad's OLED display, he also conceived the Touch Bar. He also participated in the Vision Pro and self-driving car projects, but the former's success is questionable, and the latter was canceled.
He might need to be ready to step into the spotlight, and Mark Gurman of Bloomberg says a change is not imminent. Regardless, Cook will likely remain as board chairman after retiring, so Ternus will not be entirely alone.