‘My title changes tomorrow’: Tim Cook bids emotional farewell after 15 years as Apple CEO

Tim Cook on Monday bid an emotional farewell as chief executive of Apple, bringing down the curtain on a 15-year tenure during which the technology giant dramatically expanded its products, services and global footprint and became one of the world’s most valuable companies. On his final day as CEO, Cook shared a message with the Apple community expressing gratitude for the support he had received over the years and looking ahead to his next role at the company.

“Sending lots of love to the Apple community on my last day as CEO,” Cook said in a social media post. “My title changes tomorrow, but the love I have for the Apple community never will.” He thanked the community for being a “constant source of inspiration” and said he was excited about the next chapter.

Ternus takes charge on September 1

John Ternus, Apple’s senior vice-president of Hardware Engineering, will formally succeed Cook as chief executive on September 1. Apple had announced the leadership transition in April following what it described as a long-term succession planning process unanimously approved by its board. Cook, however, is not leaving Apple. He will become executive chairman of the company’s board and continue to assist with certain areas, including engagement with policymakers around the world. Ternus has spent more than two decades at Apple and has played a major role in the development of several generations of the iPhone, iPad and Mac. His elevation places an executive with a strong hardware and engineering background at the helm as Apple confronts intensifying competition in artificial intelligence and prepares its next generation of products.

Cook also sent a farewell message to Apple employees, reflecting on his years leading the company and crediting its workforce for its achievements. He expressed confidence in Ternus and the leadership team that will steer Apple through its next phase.

A 15-year transformation

Cook became Apple CEO in August 2011 after co-founder Steve Jobs stepped down because of health problems. He inherited a company already transformed by the iPhone but subsequently oversaw an enormous expansion of its business. During his tenure, Apple introduced major products including the Apple Watch, AirPods and Vision Pro while expanding businesses such as Apple Music, Apple TV+ and other subscription services. The company also shifted the Mac towards its own Apple silicon chips and broadened its global manufacturing network.

Apple crossed successive market-value milestones under Cook, becoming the first publicly traded US company to reach valuations of $1 trillion, $2 trillion and $3 trillion. Its market capitalisation has since climbed above $4 trillion.

The company’s services business also emerged as an increasingly important source of revenue alongside the iPhone, while its installed base expanded to billions of active devices worldwide.

Cook’s tenure was not without challenges. Apple faced growing regulatory scrutiny across major markets, pressure to reduce its manufacturing dependence on China and criticism over its relatively slow response to the generative artificial intelligence boom.

India, meanwhile, became increasingly important to Apple during the latter part of Cook’s leadership, both as a rapidly growing consumer market and as a manufacturing base for the iPhone.

Cook’s move to executive chairman means he will remain closely associated with the company he has led since 2011. But the transfer of day-to-day control to Ternus marks Apple’s biggest leadership transition since Cook succeeded Jobs 15 years ago.