While succession plans are underway, an earlier report that said that Tim Cook would announce his retirement timeline before WWDC 2026 is being called false.
When the Financial Times made the claim that Apple CEO Tim Cook would announce the succession plan to be replaced by John Ternus in early 2026, the AppleInsider team was skeptical at best. It was clear Cook and many others in the executive team could retire in the next five years, but Cook's departure seems the furthest out.
According to the Power On newsletter, the report suggesting a transition would be announced is outright incorrect. Not only is it not accurate, but it doesn't seem to be seeded directly from Apple either.
Of the short list of candidates to replace Tim Cook, Ternus does seem to be the most likely candidate. The move would be interesting, as he's more of a technologist versus Cook, who's all about the supply chain.
Speculation suggests that Cook will be sticking around at least through the current US presidency, which ends in January 2029. He's been the face of Apple's interactions with the controversial government, and likely would want to shield his successor from carrying that mantle.
Cook just turned 65 in the past month, so he's already well beyond retirement age, especially for wealthy executives. However, there haven't been any signs of his health wavering, at least not publicly.
If Cook makes it to 2029 without any significant issues, he'll be pushing 70 by the time he steps down. It's not unheard of, as Warren Buffett is still CEO of Berkshire Hathaway at 95 years old, though that position is likely much less rigorous than being CEO of one of the world's biggest corporations.
Cook is expected to stay on as Chairman of the board when he retires. So, even with Cook gone as CEO, expect his influence to carry on through his successor and his place on the board for years to come.