On Friday, the Financial Times reported that Apple is preparing for Tim Cook to step down as CEO as soon as next year, but he might not fully retire. Instead, it is possible that he will become the next chairman of Apple’s board of directors.

Apple’s current chairman is Arthur D. Levinson, who turned 75 on March 31. Apple has a policy that states that its directors generally may not stand for re-election after age 75, so Levinson has reached that age limit ahead of Apple’s next shareholder meeting,…

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