As reported by the Financial Times, speculation is circulating that Tim Cook might resign from his role as Apple’s CEO as soon as next year. The company’s board is reportedly in the advanced stages of crafting a succession strategy. Among those considered for the top position, John Ternus, currently the senior vice-president of hardware engineering, is seen as a leading contender.

The buzz about Cook’s potential departure comes in the wake of Apple COO Jeff Williams retiring, with his last working day being Friday. This has prompted a reshuffle at the executive level, leading to expanded duties for Services chief Eddy Cue, software engineering head Craig Federighi, and Ternus himself.

Whether or not Ternus or another internal leader steps into the CEO role, it is unlikely that the company will look outside for leadership. Cook has previously emphasized a preference for promoting from within, noting that Apple has meticulously crafted succession plans already in place.