Source: Zinc Finance
Author: Sun Pengyue

Although current CEO Tim Cook (Tim Cook) still has a three-year contract,$Apple (AAPL.US)$Seems like the personnel arrangements for the next CEO are already being considered.

In a recent “Dua Lipa: At Your Service” blog interview, Apple CEO Cook, 63, admitted frankly that he has considered his successor and decided to find his successor from within the company, and is currently working to provide several options for the board of directors.

Cook was relaxed about leaving Apple. He said that several succession plans are currently being drawn up: “We have a very detailed succession plan. Because something unpredictable always happens, I may be on the wrong path tomorrow. Of course, I still hope this doesn't happen.”

When asked “who is the successor,” Cook did not want to reveal anyone's name, but only stated that there is more than one possibility.

As early as 2021, Cook indicated to the outside world that he would leave Apple within the next 10 years, but did not reveal a specific timeline.

It seems that the person at the helm who led Apple through the $3 trillion mark has gradually prepared himself for leaving office.

Apple has more than 100,000 employees around the world, sells products in more than 90% of the world, and stocks that often influence the market... After Cook, who will be the next captain after Cook?

Since Cook said he wants to select the CEO from within the company, he is most likely to take on the role of senior Apple. Mark Gurman (Mark Gurman), a well-known Apple tipster, speculates on candidates likely to take over as CEO and key positions in a new report. Among them, Jeff Williams (Jeff Williams), the current chief operating officer, is the focus.

Jeff Williams (Jeff Williams)

Jeff Williams, 60, is an uncompromising “Apple veteran”. Before Cook became CEO in 2011, he was Apple's Chief Operating Officer (COO). He is responsible for Apple's entire supply chain and operations, from manufacturing and parts procurement to technical support. And this is the ability that Cook, nicknamed “Supply Chain Master,” values the most.

Jeff Williams is also involved in the day-to-day development of all of Apple's hardware and oversees Apple Watch's hardware and software teams. Currently, the most prominent KPIs are in the field of Apple's health, including the health features built into the iPhone and Apple Watch.

The only pity is that Jeff Williams is only three years younger than Cook. If Cook decides to complete his three-year contract, then Jeff Williams's chances are even smaller.

Eddy Cue (Eddy Cue)

As the head of digital media such as the App Store and iTunes Store, Eddie Cooey is certainly one of Apple's key business projects in recent years. Meanwhile, the digital business led by the App Store brought Apple $85.2 billion in revenue in fiscal year 2023, making it the largest revenue category for the company after the iPhone.

Being able to make money is the ability most valued by the board of directors. Eddie Cooey is undoubtedly a popular figure as Apple's next CEO.

Deirdre O'Brien (Deirdre O'Brien)

In recent years, female CEOs have become “fashion trendsetters” in the Internet industry. According to the WB Collaborative report, in 2022, the number of female CEOs in Fortune 500 companies reached a record high, with a total of 74, nearly double the number of 41 in 2021.

There is still a precedent for “Mother Nature”. As Apple, which has always flaunted “political correctness,” there is a good chance that it will choose a female CEO.

Meanwhile, Deirdre O'Brien worked at Apple for 30 years and held various positions in sales, operations, and finance. In 2019, she became Apple's retail CEO, responsible for human resources business, and managing most of Apple's employees. In terms of positions, no one is more familiar with all walks of life at Apple than she is.

Greg Joswiak (Greg Joswiak)

Greg Joswick, who joined Apple in 1986 and stayed with Apple for 37 years, is certainly a typical Apple “lifelong employee.” Promoted to senior vice president in 2020, he has been deeply involved in product management and marketing of all Apple products.

Greg Joswick's greatest strength is that he knows the company very well and is clearly capable of becoming Apple's next leader.

Craig Federighi (Craig Federighi)

Craig Federighi, Apple's senior vice president of software engineering, is known as Apple's most senior speaker. He often attends Apple's new product launches, and has replaced Cook many times in presenting new Apple products and features to the media.

And he himself was an old man in the Jobs era. After Jobs left Apple to start NeXT, he joined the Jobs team. After Scott Forstall (Scott Forstall), the “father of iOS,” was swept away by Jobs in 2012, Craig Federighi became the director of Apple's mobile software and was hailed as the “Big Three of Apple” by the outside world.

Currently, Craig Federighi is mainly responsible for iOS and macOS businesses, which are also Apple's two core businesses: mobile phones and computers.

Compared to other candidates, 56-year-old Craig Federighi has a huge age advantage.

Sabih Khan (Sabih Khan)

Sabih Khan is one of the three heads of Apple's Executive Management Team (ET). After Apple's legendary designer Jony Ive (Jony Ive) resigned, Sabih Khan took over part of Jonathan Ive's responsibilities and officially joined the management team as senior vice president of operations.

Cook once sent an internal letter thanking Sabih Khan, saying that because of Sabih Khan's team, we are able to create the most popular and complex products in the world, and he wholeheartedly led the team forward.

The only regrettable thing about Sabih Khan is that he is a subordinate of Jeff Williams, the Apple COO and Director of Operations mentioned above. Jeff Williams (Jeff Williams) is more likely than Khan to be selected as CEO in the future.

John Tenanes (John Tenanes)

As the youngest member of Apple's management team, 48-year-old John Turners became Apple's senior vice president of hardware engineering in 2013, and may have the longest future at Apple.

John Turners leads all of Apple's hardware engineering, including the team behind the iPhone, iPad, Mac, AirPods, etc., and is responsible for overseeing hardware engineering for various breakthrough products, including every generation and model of iPhone, iPad, iMac, and AirPods.

In addition to this, John Turners is also a key leader in the transition from iMac to Apple's own M-series chips.

The person at the helm of 3 trillion is not good at work

As the first company with a market capitalization of 3 trillion dollars in history, being at the helm of it is not an easy task. The most famous case is in September 1985, when the board of directors and outside investors joined forces to kick Jobs out of Apple.

In addition to Jobs, PepsiCo President John Sculley (John Sculley), who was dug up by Jobs with the historical quote “Do you want to sell sugar water for the rest of your life, or do you want to change the world”, was also pressured by Apple's board of directors to announce new products 14 months in advance, so competitors had enough time to make cheaper competitive products.

In the end, John Scully sadly left Apple with severance pay and a year's consulting fees.

Until Jobs returned to Apple in 1997, internal struggles at Apple's senior management had been known for being intense. Later, because Jobs released a series of epoch-making products such as the iPod and iPhone, Apple quickly grew into the largest company in the world, and only then did Apple's board of directors gradually stop and delegate power to the CEO.

Cook is hailed by the outside world as the most suitable CEO for Apple. Since taking over as Apple CEO in 2011, Cook has shown outstanding leadership skills, and has achieved remarkable achievements in marketing, supply chain management, marketing, and brand building in particular. Under Cook's leadership, Apple achieved huge market influence, and its market capitalization once reached 3 trillion US dollars.

Even so, Cook needed a “fight” with the board of directors.

Apple's shareholders' organization has filed a motion against Cook's entry into the board of directors, which shows their dissatisfaction and distrust of Cook. In February of this year, the US National Center for Law and Policy (NLPC) submitted a separate request for exemption, urging Apple shareholders to oppose the reappointment of CEO Tim Cook as a board member.

In 2021, Cook sparked controversy within the company because of his excessive annual salary. In the end, Apple's board of directors voted to decide, and in the end, 64% of directors chose to vote for Cook's remuneration plan.

This year, Cook's annual salary was drastically reduced, by more than 40% compared to his total salary in 2022. The exact reason is unknown.

Apple said in a filing with the US Securities and Exchange Commission (SEC) that the board “considered shareholder feedback and Cook's suggestions” when deciding on executive compensation. It seems that there is still a shadow of the board of directors behind Cook's salary cut.

According to Apple's current plan, Cook will step down as CEO in 2026, but 2023 is not over yet. News about Cook's departure and successors has come to light frequently, so I don't know if Cook will last until 2026.

However, if you step down as Apple's CEO, you will still have to work under the supervision and control of Apple's board of directors, and will face more performance requirements and pressure.

editor/tolk