Cook reveals Apple has internal succession plan: the next CEO is expected to be born from these four people

Last month, Apple CEO Tim Cook spoke on a podcast about something that has never been mentioned before - Apple already has a very detailed succession plan. Cook said he wants the next CEO to come from within the company.

Since its incorporation in 1977, Apple has had seven chief executives, and under the revolutionary creative leadership of Steve Jobs, Apple has become a highly competitive consumer electronics company; while Cook has sent Apple to an unreachable peak: its market capitalization has risen consecutively above $1 trillion, $2 trillion and $3 trillion, making it the world's most valuable company.

The thought of Cook's inevitable retirement is enough to send shivers down the spines of Apple's investors. As the company's handler, a change in CEO is one of the most traumatic events that any company must go through, and it is bound to bring uncertainty, with the possibility of losing a large number of loyal customers and a sharp jolt in the share price if a different product philosophy is introduced as a result.

However, Cook said he also plans to "stay a while" in Apple, and revealed that Apple has developed a "very detailed succession plan. When asked about potential candidates, Cook only responded that he hoped the next CEO from within the company, and "there is more than one possibility".

Media analysts believe that if Cook's "next CEO from within" statement is true, then the potential candidates are actually not so extensive. Comprehensive industry speculation, the most likely successor is mainly focused on the following four executives:

Federighi, the "face of iOS".

First up is Craig Federighi, Apple's senior vice president of software engineering, the silver-haired executive often seen at product launches. Not only is he a frequent and recognizable presence, he's also a key member of the leadership team within the company.

Image source: Apple's official website

Federighi is responsible for iOS, the operating system for one of Apple's most important products - the iPhone - as well as macOS, the operating system on computers, of which iOS is arguably the company's primary money-making platform. But Federighi is not only a software expert, he's also known as Apple's most articulate executive, which is especially important when it comes to the CEO.

Additionally, at 56, Drudge is also the youngest on the list of four, which means he could be in the CEO's seat for much longer. After Cook retires, employees may be more interested in seeing the company stabilize over the long term rather than appointing a CEO who will retire in five years.

"Marketing Veteran" Joswiak

There's arguably no one on this list who knows more about Apple than Greg Joswiak, the 60-year-old senior vice president of worldwide marketing who joined the company in June 1986, meaning he's been with Apple for 37 years and has seen the company through ups and downs.

Image source: Apple's official website

Joswick helped develop the original iPod and iPhone for Apple under Steve Jobs, and these products were the cornerstones that brought the company back to the top. Analysts say that Joswick has the experience of the company's development to date, and he understands what works or doesn't work for the company, its customers, and its shareholders.

Overall, Joswick's greatest strength is that he knows the company inside and out, and as head of global marketing, he should be one of the best at selling Apple's vision. The best CEOs are masters at communicating a unified vision of the company to employees and customers, and Joswick has all the skills needed to be the next leader.

The "Money Machine" Cue

Now, Apple is not just a hardware company, the App Store and other key business projects have become the company's focus, and the leadership of all these services business senior vice president Eddy Cue (Eddy Cue) is also one of the next CEO of the favorite candidates.

Image source: Apple's official website

In fiscal year 2023, digital programs such as the App Store, iCloud Plus, and Apple Music have generated $85.2 billion in revenue for Apple, making it the largest revenue category after the iPhone, and the credit for these success stories should naturally go to Kuy.

It's important to note that more than hardware, software services generate revenue on a recurring basis, and the margins on that front are significantly higher. Like Joswick, Kuy has been with Apple for a long time (24 years) and naturally has as much product experience as anyone on the list.

Williams, the "Supply Chain Guru"

The last of the heavy hitters is Jeff Williams, Apple's current COO, who is responsible for Apple's entire supply chain and operations, from manufacturing and parts sourcing to technical support. Considering the amount of hardware products shipped each year, such as the iPhone, it's hard to overstate the importance of Williams' role in the company.

Image source: Apple's official website

It's worth noting that Williams was the company's COO before Cook became CEO, and the company's profile states that he "has led global operations for all products since 2010." In addition, he oversees the watch's hardware and software teams, including the health features built into the iPhone and Apple Watch.

Media analysts say Williams knows better than anyone how to use small features to drive big business, judging by Apple's foray into health. Given that he also has an engineering background, that means he's probably at least as qualified as Cook was when he was Apple's CEO. The downside is that he's only three years younger than Cook in age.

Who will get the job?

Overall, these four candidates top the list of successors, but off-list or out-of-company options are also a possibility. However, if Apple chooses to "hire" a CEO from the outside, it could be a huge blow to employees, investors, and a loyal customer base.

Additionally, the decision to take on the next CEO would also depend on the wishes of his or her successor, as some may prefer their current position, and perhaps others may not want to be under the pressure of succeeding Jobs and Cook. In response, Cook said on the podcast that he hadn't originally thought about becoming Apple CEO either, when it was beyond his realm of dreams.

"But it did happen, and I think it can happen to other people."

via CLS