Who is most likely to replace Tim Cook as Apple steps up succession plan?

Apple is intensifying its succession planning efforts as Tim Cook prepares to step down as CEO early next year, according to a Financial Times report on Friday.

John Ternus, Apple’s senior vice president of hardware engineering, is seen as a potential successor to Cook, the FT reported, citing several people familiar with the discussions.

The iPhone maker is unlikely to name a new CEO until its next earnings report in late January, which includes the important holiday season period, the report said.

Cook took over as CEO in 2011 after Steve Jobs resigned following the end of his leadership of the technology company he co-founded in a garage.