Reports about Tim Cook’s imminent departure as CEO are premature, Bloomberg’s Mark Gurman says in the latest edition of his newsletter “Power On.”

Last week, Cybernews reported that Apple had “intensified” its efforts to plan Tim Cook’s succession.

Nobody could tell why the Cook was planning to retire. However, at the time, sources from other media outlets reported that the Board of Directors already had a candidate in mind to take on the role of CEO: John Ternus.

Ternus joined Apple in 2001 as a member of the product design team. In 2013, he became Vice President of Hardware Engineering under Dan Riccio. In this role, he was responsible for Apple’s AirPods, Mac, and iPad products.

In 2021, Ternus was promoted to Senior Vice President of Hardware Engineering and was put in charge of developing the Apple Watch. Anonymous sources claimed he’ll be Tim Cook’s successor as CEO.

According to Mark Gurman, a well-informed journalist when it comes to Apple, the news of Cook’s resignation is exaggerated.

“Tim Cook won’t be CEO forever, but reports on his imminent departure were premature,” he says, adding that Cook’s succession planning has been underway for years.

“The logic of picking Ternus was straightforward,” Gurman continues.

“He is the youngest member of Apple’s executive team and offers the longest potential runway. He oversees Apple’s hardware division at the heart of developing new devices and is highly regarded by Cook and Williams.”

Barring unforeseen circumstances, Ternus would be on a shortlist to become Apple’s next Chief Executive Officer. However, unlike the Financial Times, which predicted that Apple would announce Cook’s succession in January or June 2026, Gurman doesn’t provide a timeline for Cook’s retirement.

“Based on everything I’ve learned in recent weeks, I don’t believe a departure by the middle of next year is likely. In fact, I would be shocked if Cook steps down in the time frame outlined by the FT,” Gurman states.

Curious what others think about this story? Contribute your thoughts to the debate below.

According to the Bloomberg journalist, Cook still loves his job, and whenever he decides to retire as Apple’s highest-ranking employee, he will most likely remain in a role as Chairman.

“Yes, Apple will eventually have a new leader. And, yes, it’s probably Ternus. But unless there is some unexpected event that forces Cook to step down sooner than planned, that moment is not at hand,” Gurman concludes.

Unlock more exclusive Cybernews content on YouTube.