Apple CEO Tim Cook Likely To Step Down After Announcing One More Big Product
Apple CEO Tim Cook has been at the helm for ten years now and while he has already said that he doesn’t expect to be in the role in ten years time, a new report suggests that he won’t leave Apple until he’s been able to announce one more major new product category.
Writing in his weekly Power On newsletter, Bloomberg’s Mark Gurman says that Cook would likely be allowed to hang around for much longer based on Apple’s share price performance.
But that seems unlikely, with Cook set to move on once he’s had another big product category announcement.
But there are signs that’s not likely. The belief inside Apple is that Cook just wants to stick around for one more major new product category, which is likely to be augmented reality glasses rather than a car — something that’s even further out. He also understands that running a Silicon Valley company is typically a young person’s game, and he’s not going to stay far beyond his prime.
It’s thought that announcement could be the rumored AR/VR headset that we’ve heard stories about in recent months. The Apple Car is also another possibility, but that seems more unlikely given the timescales involved. Cook’s current pay deal comes to an end in 2025 and rumors have that being the same timeframe we can expect some sort of AR/VR product announcement to take place.
Who will replace Cook isn’t clear at this point, although there are a handful of potential names. Cook has noticeably taken more of a back seat during product announcements of late, preferring to give some other people the chance to make announcements. Perhaps that’s all part of grooming his replacement.