On his last day as CEO, Tim Cook sent a farewell memo to Apple’s global staff. His note marks the end of a period where Apple shifted from a hardware powerhouse to a leader in services and silicon.
In his memo, Cook called leading Apple the “privilege of a lifetime.” He focused on gratitude, not nostalgia, and made it clear he feels at peace stepping down.
The full memo, which was distributed to employees on Cook’s last day in the role, reads as follows:
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.”
A Cultural Passing of the Torch
Cook’s note focused on durability. He said “culture triumphs over everything,” echoing Steve Jobs’s idea of leaving a “dent in the universe.”
This message comes just before a big change. On September 1, 2026, John Ternus will become CEO. Apple will shift from Cook’s operations-first approach to a focus on products and engineering. Cook told staff he feels “completely at peace” with the move and called Ternus “brilliant, wonderful, and capable.”
“Few people understand what it takes to build products that change the world the way John does,” Cook wrote regarding his successor.
The Ternus Era: A Split-Launch Gamble
This leadership change is more than symbolic. It lines up with a big shift in Apple’s product strategy. Ternus, who spent 25 years rising through hardware engineering, is expected to put hardware innovation back at the center of Apple’s plans.
His first big test comes with the “Surprise and shine” keynote on September 9. Leaks point to a major change in how Apple releases products: a split-launch strategy.
Industry analysts and supply chain sources say only the ultra-premium hardware will launch in September. That means the foldable iPhone Ultra, expected to start between $1,999 and $2,500, and the iPhone 18 Pro models with new 2nm A20 Pro chips.
The base iPhone 18 and the new iPhone Air models will not arrive until Spring 2027. This split approach helps Apple protect margins and gives high-end users early access to new designs.
An Aging Executive Team
After the keynote, Ternus faces real operational challenges. In the next three years, he needs to manage the succession of some of Apple’s key leaders.
Several top leaders are close to retirement. Johny Srouji led Apple Silicon, Deirdre O’Brien ran retail, and Greg Joswiak shaped Apple’s marketing. Replacing them will test Ternus’s ability to keep top talent.
What About Tim?
Tim Cook will stay at Apple Park. He will become Executive Chairman and focus on Apple’s political relationships with the US and China. His job will be to keep regulatory and trade issues on track.
In his memo, Cook clarified that this is not a full goodbye. “I look forward to seeing you in my new role at Apple Park and around the world,” he wrote.
The Context
Cook’s exit marks the end of Apple’s “scale” era. He built a world-class supply chain and pushed Apple’s value to new heights. Now, with Ternus, many expect industrial design to take center stage again.
Ternus faces a clear challenge. He needs to show that an engineering-first CEO can handle Apple’s political and operational hurdles and still deliver the surprise factor customers want.
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