Apple Chief Executive Officer Tim Cook sent a farewell letter to employees on Monday, August 31, marking his final day leading the technology giant after nearly 15 years in the role.
Cook confirmed that Senior Vice President of Hardware Engineering John Ternus will assume the chief executive position on Tuesday, September 1, as Cook transitions to executive chairman of Apple's board of directors.
The departure follows Cook's announcement in April 2026 that he would step down from the top executive post. Apple was originally founded in 1976 by Steve Jobs and Steve Wozniak in Cupertino, California, where its headquarters remains today.
Leadership transition and board role
In the farewell letter, which was reviewed by Bloomberg, Cook addressed staff on his final day in charge, stating that he always knew this moment would arrive, though it was still difficult to believe it had come.
Cook expressed deep gratitude for the support and affection shown by employees throughout his tenure, describing the opportunity to serve as their leader as the privilege of a lifetime.
He reassured workers that he is not leaving Apple entirely and will remain active at the company in his new position as executive chairman. He added that he looks forward to meeting employees in his new role at Apple Park and at company sites around the world.
Jobs personally recruited Cook to join Apple in 1998. Cook later took over as chief executive in August 2011 when Jobs resigned due to health complications shortly before his death in October 2011.
Financial growth and product launches
During Cook's management of nearly 15 years, Apple experienced unprecedented financial growth. The company's market valuation rose from 350 billion dollars when he took office in 2011 to more than 4 trillion dollars.
Under his leadership, Apple expanded into multiple new product categories. The company introduced the Apple Watch smart watch, the Apple Vision Pro smart glasses, and the Apple TV+ streaming service.
Cook also oversaw the ongoing evolution and market expansion of core product lines, including the iPhone smart phone and iPad tablet computer.
His final period as chief executive coincided with reports regarding Apple's artificial intelligence strategies, the announcement of iOS 27 with over 250 new features, and market forecasts indicating a potential market value loss of nearly 500 billion dollars.
Tribute to company culture and workforce
In his letter, Cook credited the company's workers for its success, stating that any achievements attributed to his leadership were entirely due to the extraordinary team at Apple.
He wrote that Apple's success stems from a unique corporate culture that surpasses anything that can be captured in an annual financial report.
Cook noted that employees share a fundamental conviction that their work matters, carrying both an opportunity and a responsibility to leave the world better than they found it. He emphasized that this sense of purpose existed within employees long before they joined the company.
Endorsement of John Ternus as next CEO
Cook offered a strong endorsement of incoming chief executive John Ternus, who has served as senior vice president of hardware engineering.
He stated that few individuals understand what it takes to create world changing products in the way Ternus does, expressing great enthusiasm for the company's future under his leadership.
Cook admitted that while he will miss leading the workforce in ways he can barely imagine, he feels complete peace of mind passing command to someone as capable and extraordinary as Ternus.
Reflecting on their joint accomplishments, Cook noted that staff had worked together to build something far larger than any individual could achieve alone. He recalled Steve Jobs's famous description of leaving a mark on the universe, attributing Apple's achievements to shared values and mutual support.
He concluded his letter by encouraging employees to stay proud of working at Apple and to continue giving their best, writing that dedicated care for colleagues and customers creates limitless transformative impact. He signed off simply as Tim.
