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Research firm LightShed Partners has suggested that Apple should consider replacing CEO Tim Cook, though a change is unlikely soon. In a note seen by Bloomberg, analysts Walter Piecyk and Joe Galone stated:
“Apple now needs a product-focused CEO, not one centered on logistics.”
Apple’s stock performance has fallen behind competitors like Microsoft and Meta, mainly due to delays in launching competitive AI features. In 2025, Apple’s shares dropped 16%, while Meta gained 25% and Microsoft rose 19%. The note warned:
“Missing on AI could fundamentally alter the company’s long-term trajectory and ability to grow at all. AI will reshape industries across the global economy, and Apple risks becoming one of its casualties.”
Despite the dip, Apple shares have surged over 1,400% since Cook became CEO, compared to 430% for the S&P 500. The report follows Apple’s announcement that COO Jeff Williams will step down. He will be replaced by Sabih Khan. Williams was once seen as Cook’s likely successor. Now, John Ternus, Apple’s SVP of hardware engineering, is considered the frontrunner.
LightShed acknowledged Cook’s success, saying, Tim Cook was the right CEO at the time of his appointment and unquestionably has done a great job. However, it added, “It’s time for more disruptive change, not less.”
Yet, Bloomberg’s Mark Gurman believes Cook’s departure isn’t near. There’s no immediate successor ready to take the helm. There also haven’t been signs internally that Cook is getting ready to leave or begin the process of grooming a replacement.
More significantly, Apple’s board, consisting of Cook loyalists like Arthur Levinson, Susan Wagner, and Ronald Sugar, doesn’t see a need for change.
“There’s no question Cook bears responsibility for Apple’s current struggles. That includes the company’s AI missteps, an aging product lineup, the erosion of its design-focused culture, a decade-long drought of breakthrough mainstream hardware, and its growing tensions with developers and regulators. But there’s also no question that the board still sees him as the only person capable of turning things around. No crisis is big enough to shake the board’s faith in Cook.”
Gurman further speculated that Cook could take on the role of chairman in addition to CEO:
“Levinson, Apple’s longtime chairman, has already surpassed the company’s recommended board retirement age. So it wouldn’t be surprising to see Cook eventually step into that role himself, as Iger, Dimon, Microsoft Corp.’s Satya Nadella and Cisco Systems Inc.’s Chuck Robbins have done at their companies. That would give Cook an even tighter grip on the iPhone maker.”
Still, Apple seems to acknowledge the need for change. Senior executives such as services chief Eddy Cue have warned that without swift adaptation, Apple could follow the path of BlackBerry or Nokia.
