Apple is reportedly accelerating its succession planning for a new chief executive officer, with current CEO Tim Cook potentially stepping down as early as next year. John Ternus, Apple's senior vice president of hardware engineering, has been identified as the leading internal candidate to take over the role. The company's board and senior executives have reportedly intensified these transition preparations. The discussions are described as part of a long-planned transition and are not tied to the company's recent strong performance. Cook, who has been CEO since 2011 after the passing of Steve Jobs, has overseen a period of immense growth for the company, pushing its market valuation to nearly $4 trillion. An official announcement is not expected before late January, following the crucial holiday quarter earnings report.