Tim Cook Bids His Final Farewell as CEO
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The end of an era is officially upon us as Tim Cook prepares to exit the chief executive’s office at Apple Park, clearing the way for his successor, John Ternus, to take the helm tomorrow.
We’ve known this was coming since Apple announced it on April 20, but it’s still a somewhat bittersweet day to actually watch it happen. The good news is that Cook isn’t vanishing entirely; he’s technically moving upstairs to become the executive chairman — a role he plans to remain in for “a long time.”
It’s not entirely clear what this will mean in practical terms, as it’s the first time Apple has had an executive chairman. Apple’s board of directors has been helmed by Arthur Levinson for the past 15 years, who was recently re-elected to stay on past his 75th birthday. As of today, he’s still listed as the “Chairman of the Board” on Apple’s Leadership page, but of course Cook is also still up there CEO for a few more hours as well. We expect some seismic changes to that roster by tomorrow.
More specifically, April’s announcement explicitly listed him as the “non-executive chairman,” distinguishing him from Cook’s new role. However, to avoid any confusion, he’s expected to become Apple’s “lead independent director” once Cook officially takes the executive chairman’s seat.
So far, all we’ve heard about Cook’s new job is that he will “assist with certain aspects of the company, including engaging with policymakers around the world.” That likely means he’ll still be a regular attendee at the White House and on junkets to China. That’s probably a good thing, as he’s already built those relationships, and it lets the new CEO, John Ternus, focus on actually being CEO rather than navigating the messy geopolitical world.
In fact, we wouldn’t be surprised if we found out Ternus agreed to be CEO solely on the condition that Cook be the one to deal with Donald Trump.
With fifteen years at the helm, Tim Cook has been Apple’s longest-serving CEO to date, surpassing legendary co-founder Steve Jobs, who served only 14 years, including his three years as “interim CEO.” While Jobs was chairman of the board in the early days of Apple, he didn’t hold the CEO title until he returned in 1997.
Tim Cook came to Apple from Compaq in 1998, joining as the senior vice president for worldwide operations. He was formally promoted to chief operating officer on October 14, 2005, and quickly became the man known for building an unmatched logistical supply chain — skills he brought with him into the CEO’s office when Steve Jobs handed the reins over in August 2011. Six weeks later, on the day after Apple announced the iPhone 4S, Jobs lost his battle with cancer, turning that year’s iPhone launch day into a tribute to the Apple co-founder.
While Tim Cook already penned some final reflections as CEO in April, he had one more message to send out to all of Apple’s employees today, as shared by Bloomberg and 9to5Mac:
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 let 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
