Is Tim Cook preparing to exit as Apple CEO? Some signs point to it happening soon. Credit: Kena Betancur/Bloomberg via Getty Images According to a new report from the Financial Times, Apple is currently making plans for Tim Cook to step down as CEO.

Rumors about Tim Cook's potential retirement from Apple this year are intensifying, with reports suggesting he desires to reduce his workload. At 65, Cook has led Apple since 2011, prompting speculation about his succession.

Apple is reportedly stepping up CEO succession planning, with hardware chief John Ternus emerging as a prominent internal candidate to eventually succeed Tim Cook. Here’s what we know about Apple’s hardware chief.