Apple is preparing for the biggest change in its management team in a decade amid the resignation of key top managers, including Chief Operating Officer Jeff Williams and Chief Financial Officer Luca Maestri. At the same time, CEO Tim Cook, despite growing criticism, has no plans to leave his position anytime soon. This is according to Bloomberg.
Generational change and internal challenges
With Williams and Maestri leaving and dozens of other top managers approaching retirement age, the company is undergoing a major restructuring. Williams’ responsibilities are already being distributed among new executives, including Sabih Khan, who will become the new COO.
This transformation is taking place at a difficult time for Apple. The company is facing an internal crisis, exacerbated by criticism of its slow adoption of artificial intelligence, stagnation in product innovation, and the poaching of leading AI experts by competitors such as Meta. According to sources, Apple is also forced to curtail some ambitious projects, such as the redesign of the Liquid Glass interface in iOS 26.
Trust in Cook and the search for a successor
Despite the problems, the board of directors retains full confidence in Tim Cook. Since 2011, when he took over the company, its shares have risen by more than 1,500%, making him one of the most successful CEOs in history. Currently, there is no direct replacement for him: Jeff Williams, who was considered the most likely successor, is retiring, and other executives lack experience.
John Ternus, the current head of the hardware division with 20 years of experience at Apple, is considered the key candidate for the CEO position in the long term. However, he lacks financial and operational expertise, so he will need a strong team. In the event of a force majeure, the company will likely be temporarily managed by a board of several top managers.
New strategy
Apple’s management recognizes the need to update its approach. The service division, headed by Eddie Cue, even publicly warns that without adapting to the new realities, Apple risks repeating the fate of BlackBerry. The first steps in this direction have already been taken: the Vision Pro team has been disbanded, and the development of Siri and robotics has been transferred to other departments. According to unofficial information, the company is also considering the acquisition of AI startups such as Perplexity or Mistral.
What does the resignation of the COO and CFO mean for a company like Apple?
In the corporate hierarchy of large technology companies, the positions of chief operating officer (COO) and chief financial officer (CFO) are second in importance only to the CEO.
- COO (Chief Operating Officer): This is the person responsible for all day-to-day operations of the company. In Apple’s case, Jeff Williams, like Tim Cook before him, managed the world’s most complex supply chain, manufacturing, and logistics. It is the COO who ensures that hundreds of millions of iPhones, Macs, and other devices are manufactured and delivered on time and with high quality around the world. The loss of such a specialist is a huge operational challenge.
- CFO (Chief Financial Officer): This is the executive responsible for all of the company’s financial flows, budgeting, financial reporting, investor relations, and management of Apple’s massive treasury. Luca Maestri was the face of the company’s financial stability for Wall Street.
The simultaneous resignation of both of these figures is an infrequent event and indicates tectonic changes within the company.