Apple might soon be preparing for its biggest leadership transition in over a decade. A Financial Times report suggests that Tim Cook could step down as CEO as early as next year, with the company now actively fine-tuning its succession plan. Cook, who turned 65 this month, has led Apple since 2011, when he took over from Steve Jobs. Over the past 14 years, he has turned Apple into a $4 trillion powerhouse, expanding it far beyond the iPhone into wearables, services, and mixed reality devices. But after years of record growth, it appears Cook may soon hand over the reins to a new generation of leadership.

Here’s a breakdown of everything known so far about the potential shake-up, in five key points.

Apple begins planning for a post-Cook era

According to the FT, Apple’s board and top exe

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