With Tim Cook's 10th year as CEO upon it, Apple is planning for the future

Tim Cook Source: Apple

What you need to know

Apple CEO Tim Cook's reign enters its tenth year.
The company is beginning to "cultivate" the next line of executives.
Apple knows that Cook, Greg Joswiak, etc won't be around forever.

A new Bloomberg report points to Apple's new focus on making sure that it has someone ready to fill the boots of any executive who leaves – including Tim Cook.

Cook has been CEO for ten years and while he won't be leaving any time soon, Bloomberg says Apple is getting ready for all eventualities.

As Cook begins his 10th year at the helm, his management group is filled mostly with senior vice presidents who have worked at Apple for more than two decades, made tens of millions of dollars and are at or near the ages of 55 to 60 when many previous executives have stepped aside. That, along with typical corporate planning, has spurred the Cupertino, California-based company to cultivate its next class of top managers, said people familiar with the matter who asked not to be identified talking about internal company discussions. Apple declined to comment.

The report goes on to outline some of the people who could take over should the likes of Cook move on. Apple's executives are reaching the age where most tend to step aside and Apple needs to be ready.

People within Apple point to Jeff Williams, current Chief Operating Officer, as the person most likely to replace Cook should he leave. That's no surprise to followers of Apple with Williams coming to the fore more and more in recent years. Those inside Apple believe that he is similar to Cook in many ways.

Also of note is the fact that Phil Schiller, VP of worldwide marketing, has been handing his duties off for years. It was recently announced that Greg Joswiak is taking over his duties, but it seems the move has been years in the works. It's that kind of succession planning that Apple now wants to do for other members of its team, too.

The full Bloomberg piece goes on to outline people who could replace other members of the Apple leadership team and there are some important names in there. It's well worth a read if you're interested in the names we might all be talking about in the future.