Tim Cook has announced he will step down as chief executive of Apple after nearly 15 years at the helm, marking the end of a significant era for the tech giant. Cook, who took over the role in 2011 following the tenure of co-founder Steve Jobs, will move into the position of executive chairman in September.
John Ternus, currently the company's head of hardware engineering, will take over as CEO. With his appointment, Ternus will become the eighth CEO in Apple's 50-year history.
A Defining Era Under Cook's Leadership
Also Read | From $350 Billion To $4 Trillion: How Apple Stock Performed Under Tim Cook
Cook's tenure is widely regarded as one of the most successful periods in Apple's history. When he assumed leadership, there were questions about whether anyone could match Jobs's influence. Under Cook, however, Apple expanded significantly, strengthening its global presence and becoming one of the most valuable companies in the world.
Also Read | Apple CEO Change: Tim Cook To Become Executive Chairman, John Ternus Named Successor
Over the years, Cook focused on scaling Apple's ecosystem, introducing new product lines and services while maintaining the company's emphasis on design, innovation and customer experience.
Tim Cook's Full Statement In A Memo
In a memo to Apple employees, Cook reflected on his journey, recalling the moment he was asked by Steve Jobs to take on the CEO role. Announcing the leadership change, Cook said the timing felt right "for me to transition to a new role of executive chairman." He also expressed gratitude to Apple's team, crediting their collective efforts for the company's success. Here is Cook's memo to employees:
"Team, 15 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 Theatre at 9 a.m. to talk about this and more. I'm looking forward to it."
With gratitude,
Tim
Cook Calls It a ‘Transition', Not Goodbye
In a letter posted on Apple's website, Cook clarified his departure from the CEO role does not mark a complete exit. Calling it a “moment of transition,” he said, “This is not goodbye."
John Ternus to Lead Next Phase
Ternus, who joined Apple in 2001, has spent over two decades at the company, working across key product categories such as Macs and iPads. In his communication to employees, Cook expressed strong confidence in Ternus's leadership, describing him as a visionary with deep commitment to Apple's values and future direction.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honour. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman,” he said.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.