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Tim Cook shares open letter of gratitude as he announces Apple CEO transition

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Why This Matters

Tim Cook's transition from CEO to executive chairman marks a significant leadership change at Apple, highlighting his impactful 15-year tenure that saw record growth and innovative product launches. The appointment of John Ternus as the new CEO signals a continued focus on engineering excellence and innovation. This leadership shift underscores Apple's ongoing evolution and commitment to maintaining its industry dominance.

Key Takeaways

Apple today posted a touching open letter from Tim Cook on its website, in which he calls his time as CEO of Apple an “honor and a privilege”. He also describes incoming CEO, John Ternus, as a “brilliant engineer and thinker”.

As announced today, Tim Cook will move to the executive chairman role in September. Ternus is being promoted from his prior role as SVP Hardware Engineering.

Cook became Apple’s CEO in August 2011, after founder Steve Jobs had to retire from the position due to ill health. When Cook steps down in September, he will end a fifteen year run as leader of one of the biggest and most valuable companies in the world, with much of its meteoric rise happening under his watch.

During his tenure, Cook oversaw the record growth of the iPhone business, a major expansion of Apple’s services division, the industry-leading era of Apple silicon, as well as launching new product categories like AirPods, Apple Watch, and Vision Pro.

In the letter, Cook reflects on his career at Apple so far while stressing it does not mean “goodbye”.

It remains to be seen exactly how public facing he will be as chairman going forward.

He ends the letter with a personal thanks of gratitude to every Apple customer:

This is not goodbye. But at this moment of transition, I wanted to take the opportunity to say thank you. Not on behalf of the company, this time, though there is a wellspring of gratitude for you that overflows inside our walls. But simply on behalf of me. Tim. A person who grew up in a rural place in a different time and, for these magical moments, got to be the CEO of the greatest company in the world. Thank you for the confidence and kindness you’ve shown me. Thank you for saying hi to me on the street and in our stores. Thank you for cheering alongside me when we unveiled a new product or service. Thank you, most of all, for believing in me to lead the company that has always put you at the center of our work. Every day we get up and think about what we can do to make your life a little bit better. And every day, you’ve made mine the best I could have asked for.

You can read Cook’s public letter in full here.