Last month, Apple CEO Tim Cook talked about something in a podcast that was never mentioned — that 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 gone through seven CEOs, and under the revolutionary ideas of Steve Jobs, Apple has become a highly competitive consumer electronics company, and Cook has sent Apple to unattainable peaks: its market capitalization has risen to $1 trillion, $2 trillion and $3 trillion in succession, making it the world's most valuable company.
The thought that Cook will inevitably retire is enough to send shudders down the spines of Apple's investors. As the leader of a company, the change of CEO is one of the most nerve-wracking events that any company must go through, and it is bound to bring uncertainty, and if a different product concept is introduced, it can lose a large number of loyal customers, and the stock price can also shake violently.
However, Cook said he also plans to "stay for a while" at Apple, revealing that Apple has a "very detailed succession plan". When asked about potential candidates, Cook only responded that he wanted the next CEO to come from within the company and that there was "more than one possibility."
Media analysts believe that if Cook's statement that "the next CEO will come from within" is true, then the potential candidates are actually not so widespread. According to industry insiders' speculation, the most likely successors are mainly concentrated in the following four executives:
"iOS Spokesperson" Federigi
The first 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 person, but he is also a key member of the leadership team within the company.
Source: Apple's official website, the same below
Federighi is responsible for one of Apple's most important products, iOS, the operating system for the iPhone, and macOS, the operating system on the computer, which is arguably the company's main money-making platform. But Federighi is not only a software expert, he is also known as Apple's most eloquent executive, which is especially important when it comes to CEOs.
In addition, the 56-year-old is the youngest of the four, meaning he can work longer in the CEO position. After Mr. Cook's retirement, employees may prefer to see long-term stability rather than appointing a CEO who will retire in five years.
"Marketing veteran" Josswick
It's fair to say that no one on the list knows Apple better than Greg Joswiak, the 60-year-old senior vice president of global marketing who joined the company in June 1986, meaning he's been with Apple for 37 years and has seen the company go up and down.
Joswick helped Steve Jobs' Apple develop the original iPod and iPhone, which were the cornerstones of the company's return to the top. According to the analysis, Jossvik has the experience of the company's development so far, and he understands what works or doesn't work for the company, for customers, and for shareholders.
Overall, Joswick's greatest strength is his intimate knowledge of the company, and as head of global marketing, he should be one of the best at pitching Apple's vision. The best CEOs are masters at communicating a unified vision for their company to their employees and customers, and Josvik has all the skills needed to become the next leader.
"Money machine" Kuy
Apple is now more than just a hardware company, with the App Store and other key business projects, and Eddy Cue, senior vice president of services, who leads it all, is one of the favorites to become the next CEO.
In fiscal year 2023, digital projects such as the App Store, iCloud Plus, and Apple Music have already brought in $85.2 billion in revenue for Apple, making it the largest revenue category after the iPhone, and the credit for these success stories naturally goes to Kuy.
It is important to point out that the revenue generated by software services is recurring and the profit margins in this regard are significantly higher than those of hardware. Like Joswick, Kuy has been with Apple for a long time (24 years) and his product experience is naturally no less than that of anyone on the list.
"Supply Chain Guru" Williams
The final big candidate is Jeff Williams, Apple's current chief operating officer, who is responsible for Apple's entire supply chain and operations, from manufacturing and parts procurement to technical support. Considering the annual shipment of hardware products such as iPhones, Williams' importance to the company is self-evident.
It is worth mentioning that Williams was already the company's COO before Cook became CEO, and the company profile also states that he has "led the global operations of all products since 2010". In addition, he oversees the hardware and software team for the watch, including the health features built into the iPhone and Apple Watch.
According to media analysis, from the point that Apple has set foot in the health field, Williams knows better than anyone how to use small features to drive big business. Given that he also has an engineering background, this means that he is likely to be at least as qualified as Cook was when he was Apple's CEO. The downside is that he is only three years younger than Cook in terms of age.
Who will get the job?
Overall, these four candidates are at the top of the list of successors, but there are some possibilities for options outside the list or outside the company. However, if Apple chooses to "externalize" a CEO, it could be a huge blow to employees, investors and loyal customer base.
In addition, the decision to become the next CEO depends on the wishes of the successor, as some may prefer their current positions, while others may not want to bear the pressure to succeed Jobs and Cook. In response, Cook said in the podcast that he didn't originally want to become the CEO of Apple, which was beyond his dream at the time.
"But it did happen, and I guess it could happen to other people as well. ”