According to the Financial Times, Tim Cook, Apple's CEO for 14 years, might resign next year. The board is actively developing a succession plan, with John Ternus, the senior vice-president of hardware engineering, considered the frontrunner. Cook, who recently turned 65, has overseen Apple's remarkable growth and faced various controversies, including the company's shift to outsourcing manufacturing. This potential leadership change follows the retirement of Apple COO Jeff Williams, leading to a reshuffling of executive responsibilities. Cook has indicated a preference for an internal candidate to succeed him, emphasizing that Apple has detailed succession plans in place.