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New Delhi: Apple has begun the process of selecting its next CEO. According to a report in the Financial Times Apple CEO Tim Cook may step down next year. The company has begun working on who will take over Apples leadership after Tim. It is not yet clear who the next CEO will be. However Apples Senior Vice President (Hardware Engineering) John Ternus is considered a leading contender for the position. The Financial Times in its report cited several people as suggesting John Ternus as a potential contender for Apples next CEO. Apple has not yet officially announced any information on this matter. After leading Apple for nearly 14 years Tim Cook may now retire. Apple is expected to announce its next CEO early next year. Tim Cooks journey with Apple Tim Cook took over Apple after Steve Jobs left his position in 2011. Its worth noting that Tim Cook joined Apple in 1998. At that time the company was facing many difficulties. Steve Jobs hired Tim Cook to steer Apples operations team in a new direction. From 2005 to 2011 he served as the companys Chief Operating Officer. During this time he strengthened the supply chain for products like the iPod MacBook iPhone and iPad on a global stage. It is believed that Tim Cook was instrumental in Apples large-scale product launches. Became CEO in 2011 Even during Steve Jobs illness Tim Cook served as interim CEO of the company. On August 24 2011 Steve Jobs appointed Tim Cook as Apples CEO. Under Tim Cooks leadership Apple has achieved many significant milestones. During Cooks tenure as CEO the company launched new products such as the Apple Watch AirPods M1 M2 and M3 silicon chips and the Apple Vision Pro. Apple also became the first company to reach a valuation of $3 trillion. Service businesses such as iCloud Apple Music Apple TV+ and the App Store have expanded under Tims leadership.