Tim Cook signed off as Apple's chief executive with a farewell note to employees that leaned heavily on gratitude, company culture and a full-throated endorsement of his successor, John Ternus, who takes over as CEO effective September 1.
A send-off built on gratitude
In the memo, Cook told staff that leading Apple had been the privilege of his lifetime and thanked employees for the outpouring of support he had received as his final day approached. He was careful to credit the company's rank and file rather than himself for whatever success he had delivered, telling employees that they had brought out the best in him and that he had never worked with a more extraordinary team. Cook framed Apple's culture as what made the company exceptional, describing a shared sense of purpose among employees to build things responsibly and leave the world better than they found it.
Passing the baton to John Ternus
Cook was explicit that his departure from the CEO role does not mean leaving Apple altogether; he transitions into the role of executive chairman, where he is expected to focus on the company's relationships with governments and policymakers. Cook closed the memo by telling staff he looked forward to seeing them around Apple Park in his new capacity, signing off with a personal note of thanks before his name.
The end of a 15-year run
Cook's exit closes out a tenure that began in August 2011, when he succeeded Apple co-founder Steve Jobs. Under his watch, Apple grew from a consumer electronics maker into a sprawling ecosystem spanning devices, services, chips, payments and digital content, and became the first publicly traded American company to reach a $1 trillion market capitalisation in 2018 before going on to cross $2 trillion and then $3 trillion. Apple confirmed the succession plan back in April, with its board unanimously approving Ternus as the next chief executive following what the company described as a long-term succession process.
Who is John Ternus?
Ternus joined Apple in 2001 on the product design team and rose through the ranks to lead hardware engineering, overseeing development across the iPad, Mac and other flagship lines before his promotion to senior vice president in 2021. He now inherits a company with deep financial strength and a loyal global customer base, but also one facing pointed questions about whether it can move fast enough in artificial intelligence, an area where rivals including Microsoft, Google and Meta have invested far more aggressively. As executive chairman, Cook is expected to remain involved in select parts of the business, including Apple's dealings with policymakers, while Ternus takes charge of day-to-day operations and product strategy.
Here is the full text of the memo sent by Cook to Apple employees:
Team,
Today is my last day as CEO of Apple. This is a moment I always knew would come one day, and yet it is still hard to believe it has arrived and I am writing these words. I love this company and the team behind it, and I couldn't et this day pass without sending a note to you to tell you how grateful I am for the outpouring of affection you've sent my way, for the way you've shown up each and every day, and most of all, for the privilege of a lifetime serving as your leader.
The truth is, whatever there is to say about my success, I know it is all because of you. You have brought out the best in me. In all my life, I have never seen or been with such an extraordinary team of people before, and every day I get to see more examples of that.
There is something truly special about Apple. I am most proud of what an annual report could never capture. This place is proof that culture triumphs over everything. We share a belief that what we build matters and that we have both the opportunity and the responsibility to leave the world better than we found it. That purpose is part of what makes this place extraordinary. Apple helps nurture it, but I believe it lived within each of you long before you arrived here. It is what brought you to this company and what continues to drive the work you do every day.
Together, we have created something far greater than any one of us could have imagined or accomplished alone. And that's the secret to our success. We bring out the best in each other. We lift each other up. We have made it possible to leave our "dent in the universe," as Steve once described it, because of who we are and what we believe, because of what we value and how we see the world. How fortunate we are. How fortunate I am.
As you know, I am not leaving Apple. But I am stepping away from a role that I have loved deeply. I will miss this work in ways I can only begin to imagine, even as I remain completely at peace with my decision. I will miss leading you and being with you for every step, even as I take enormous comfort in handing the helm to someone as brilliant and wonderful and capable as John. Few people understand what it takes to build products that change the world the way John does and I could not be more excited for his leadership.
I hope you know how much I appreciate you and what an honor it has been to be your CEO. Most of all, I hope you will continue to be proud to be part of this remarkable place we call Apple and always give it your very best. When we bring our whole selves to this work, with care for one another and for the people we serve, there is no limit to the profound difference we can make.
I look forward to seeing you in my new role at Apple Park and around the world.
With all I have and all I am, I am always.
Yours,
Tim
