Tim Cook, CEO of Apple since 2011, is set to conclude his term next year, after approximately 15 years in charge.

Apple has begun the search for a new CEO, accelerating the process in anticipation of Cook's retirement, who recently turned 65. The main favorite to take over the leadership of the company is John Ternus, the current vice president responsible for the hardware division. The exact timing of the succession is not yet established, but it is estimated that it will not take place before the quarterly financial report in January.