Apple CEO transition: Tim Cook and John Ternus share internal memos

Following Apple’s announcement that Tim Cook will step down later this year and be succeeded by hardware chief John Ternus, Bloomberg reports that both executives have shared internal memos about the transition. Read them below.

In a somewhat surprisingly timed announcement for a widely expected move, Apple confirmed today that John Ternus will become CEO on September 1, with Tim Cook moving to Executive Chairman.

After the announcement, Tim Cook shared a touching open letter on Apple’s website, thanking Apple’s users for their support and belief in the company’s mission during his time as CEO.

Now, Bloomberg reports that both Cook and Ternus have shared internal memos commenting on the leadership transition, ahead of a town hall scheduled for tomorrow morning in the Steve Jobs Theater.

Here’s what Tim Cook had to say to the company’s 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

Ternus also published an internal memo, thanking his team for their work and saying he is looking forward to his new role. From his memo:

As you’ve by now heard, Tim has announced that he will be transitioning into the executive chairman role, and in September, I will become Apple’s new CEO. It has been such a privilege to lead the hardware engineering team, to be part of such remarkable work, and to see all of you in action, determined as ever to do everything we can for our users. I look forward to working with you very closely in my new role. Needless to say, I still plan to be very hands-on.

To read Ternus’ full memo in Bloomberg’s original report, follow this link.

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