And in the way they were written, in the details chosen and the ones left out, you learn more about how Cook ran Apple for fifteen years than any earnings call ever revealed.

On April 20, 2026, Apple confirmed what had been quietly speculated for months. Cook, 65, is stepping down as Chief Executive Officer in September, transitioning into the role of Executive Chairman of Apple's board of directors. John Ternus - an engineer who has spent 25 years at Apple and currently serves as Senior Vice President of Hardware Engineering - will become the company's next CEO, effective September 1, 2026. The board approved the transition unanimously, describing it as the result of a long-term, deliberate succession planning process.

In his memo to Apple employees, Cook was direct and warm in equal measure. He described the company's product roadmap as truly extraordinary and said he had never been more optimistic about Apple's future. That line, placed at the top of a letter about his own departure, was characteristic Cook - the focus immediately redirected away from himself and toward the institution he spent fifteen years building.

His words about Ternus were considered and specific. Cook described him as a visionary in his own right, a man of remarkable integrity, and someone whose passion for Apple had been evident across years of conversations between the two. He framed Ternus not as a successor inheriting a finished project, but as the right person to break new ground on ideas and pathways that haven't been explored yet.

A Thank-You Letter That Said More Than Any Earnings Call Ever Did

Here is the full text of Tim Cook's letter to Apple employees:

Team,
Fifteen 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 Theater at 9 a.m. to talk about this and more. I'm looking forward to it.
With gratitude,
Tim

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