In a move that marks the end of a transformative era in Silicon Valley, Apple CEO Tim Cook announced that he is stepping down from the chief executive role he has held for fifteen years, transitioning to a newly created position of executive chairman. John Ternus, a longtime Apple veteran widely respected inside the company, will take over as the technology giant's next chief executive officer.
Cook broke the news in an internal memo addressed to Apple's global workforce, a letter that was both a farewell and a declaration of confidence in the company's future. The announcement sent ripples through the technology industry, where Cook's steady and disciplined leadership has long been seen as one of the most consequential executive tenures in corporate history. Several tech leaders have come forward, reacting to the news. OpenAI CEO Sam Altman called Cook a 'legend'.
Tim Cook steps down: Town Hall at the Steve Jobs Theater
Apple employees were informed that a company-wide town hall will be held at 9 am Cupertino time, the following morning at the Steve Jobs Theater on the Apple Park campus, the venue that bears the name of the man whose final decision set this succession in motion fifteen years ago.
For now, Cook's message to his team is clear: the best, he believes, is still ahead.
Tim Cook's full memo to Apple employees
The following is the complete, unedited internal memo sent by Tim Cook to Apple's global workforce
Team,
Fifteen years ago, my friend and mentor Steve Jobs asked me to step into the role of CEO. It was an emotional and challenging moment for all of us at Apple, and I hoped I'd be up for the awesome responsibility I was taking on.
I knew then what I know now: that there are certain values embedded in Apple that are bigger than any of us; a belief in the simple, not the complex; a determination to innovate with a focus on those few things that are truly important to the world and meaningful to us; an impatience for anything less than excellence in every group in the company; a commitment to enriching the lives of those we have a privilege to touch with our work; and a resolve to do all that we can to leave the world better than we found it. Those were the values that made Apple what it was then, and I am proud to say that they are the ideals that animate each of us today.
Today, we have a truly extraordinary road map, and I have never been more optimistic about Apple's future. That is why I have decided that now is the right time for me to transition to a new role of executive chairman. And I am thrilled to announce that John Ternus will be our new CEO.
Throughout the many years I've worked with him, and our many conversations about his becoming Apple's next CEO, John's passion and love for Apple shine through. He is a visionary in his own right, a man of remarkable integrity, and the kind of person we can all be proud to follow. John is the right leader to help us innovate into the future, to help us break new ground on big ideas and bold new pathways, and to ensure that the values that have made us so successful and so admired for the past 50 years will remain the core of our identity and our culture in the decades to come.
For my part, I will remain CEO through the summer and work very closely with John as we transition roles. In my new role as executive chairman, I plan to support John and Apple in a number of key areas and to be available to offer my experience whenever and wherever it is needed.
I want to offer my profound gratitude to the best executive team on the planet for your friendship and your brilliance over the years. And I want all of you, every member of the Apple team, to know how much it has meant to me to work with you. You are the most remarkable people in the world, and it's because of you that Apple is such a special place. What we built, we built together, and you are why I am incredibly optimistic about the future. I know you will join me in congratulating John as we write this next chapter of Apple's story.
We'll be hosting a town hall tomorrow in the Steve Jobs Theater at 9 am to talk about this and more. I'm looking forward to it.
With gratitude,
Tim
