It’s been quite a year for Apple (AAPL). The company reported record revenue on the back of strong iPhone sales. Its services business continued its impressive growth, hitting $109.2 billion in sales. And its market capitalization topped $4 trillion, joining Nvidia (NVDA) as the second company to reach the milestone.
But the company is also struggling with major changes in its executive ranks. CFO Jeff Williams Retires – He was previously considered the top choice to take over the CEO mantle after Tim Cook finally stepped down.
Government affairs chief Lisa Jackson and general counsel Kate Adams are retiring at the end of January and at the end of 2026, respectively.
And then there’s AI chief John Gianandrea and design vice president Alan Dye. Giannandrea is retiring and handing over Apple’s AI efforts to Amar Subramanya, who previously worked on AI initiatives at Google ( GOOGL , GOOG ) and Microsoft ( MSFT ).
Dye, meanwhile, left Apple to lead a new design studio, META Reality Labs.
All of this comes as Cook is reportedly preparing to replace senior vice president of hardware engineering John Turnus to take over as CEO.
It all adds up to an Apple in flux as it transforms itself for a post-Cook era. Cook could step down as early as 2026, according to the Financial Times. Bloomberg’s Mark Gurman said there is still no firm timeline for when Cook will leave his post.
Regardless of the exact timing, Apple must finally say goodbye to Cook, and 2025 helps the company set itself up for its biggest shakeup in years.
Cook, who joined Apple in 1998, took over as CEO 14 years ago after the death of founder Steve Jobs. After returning to the company in 1997 after being fired in 1985, Jobs turned around an ailing Apple. He later released a string of groundbreaking products, including the iPod and iPhone, which continued to bring in most of Apple’s revenue.
Cook continued that success during his time at the helm of the company, overseeing the debut of the Apple Watch and AirPods, as well as the explosion of Apple’s services business. He has pushed Apple to use its own chips in its products, giving the company more control over the design and functionality of its devices.
That, combined with Cook’s skillful abilities as a negotiator, helped Apple weather a series of crises, including the U.S. Department of Justice, the COVID-19 pandemic, and President Trump’s ongoing trade war with China. Trump eventually exempted smartphones and some other tech products from tariffs on Chinese goods.
