Apple CEO Tim Cook addressed employees on Tuesday to clarify his future with the company after he steps down from the top job later this year. According to Bloomberg’s Mark Gurman, Cook used an all-hands meeting at the Steve Jobs Theater in Cupertino to confirm he is “healthy” and intends to remain as executive chairman for “a long time.”
The meeting followed the major announcement that Cook will officially pass the torch to hardware chief John Ternus on September 1. While Ternus has long been considered the heir apparent, the timing of the transition caught many by surprise. Cook, 65, told staff his energy remains high and he wants to put to rest any speculation regarding his health or a sudden departure.
Cook noted that while there can only be one CEO at a time, his new role as executive chairman will allow him to focus on Apple’s global relationships, a task he has handled for over a decade. He promised to be a sounding board for Ternus and offer support whenever called upon.
When asked why he chose this specific moment to step down, Cook explained that he wanted the “best-ever transition.” He believes the timing is perfect because Apple’s business is performing well, the current holiday quarter was the company’s best ever, and the future product road map is “incredible.” Cook emphasized that Ternus is fully ready for the role and that the intersection of these factors made now the right time for the change.
We look forward to what the future product road maps will be under the leadership of Ternus, a hardware guy that is said to have leadership like Steve Jobs.
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