Apple's board and leadership are increasing their search for the right candidate to replace Tim Cook as CEO, just in case the eventual succession of the company's leadership happens in 2026.

A lot of Apple's senior figures are facing retirement, with most of the top executives now over the age of 60. For a company of Apple's size, it is an inevitability it has to plan for, and one that it must be especially careful about for the top role.

While that preparation work is known to be underway, sources of the Financial Times say that the work has intensified, just in case Cook steps down as soon as in 2026.

The sources say that the transition planning isn't in any way related to the current performance of the company itself.

As for when the announcement could take place, Apple is unlikely to do so before its bumper January earnings report. However, an announcement early in the year is thought to give the company's reshuffled leadership team time to settle into their new roles ahead of WWDC and the fall iPhone refresh.

The report arrives shortly after Apple Chief Operating Officer Jeff Williams officially retired from the company. While he stepped down in July and transitioned the role to Sabih Khan, Williams remained at the company until November.

Keen candidates

The current shortlist of candidates for the next CEO is brief, but consists of three senior figures within the company. The current hot favorite is John Ternus, SVP of hardware engineering, a relatively young chief at 50 years old, and a choice that could bring more hardware-related change at the tech giant.

Along with Ternus, Craig Federighi is also a prime candidate. With a long history as the face of Apple's software efforts, he has a firm standing to continue being a more public-facing CEO for the company compared to the rest of the pack.

There is also Greg Joswiak, who has become the face of Pro models of iPhone as the SVP of worldwide marketing. While Ternus and Federighi are both more hands-on with Apple's software and hardware, Joswiak's broader overview of Apple and his 30-year tenure could help him secure the role.