Why is Tim Cook stepping down? What he plans to do at his Palm Springs vacation home after Apple exit

Apple’s long-term CEO Tim Cook has officially stepped down, passing on the role to John Ternus. This is not a complete exit from the company, as Cook will continue to serve as executive chairman. However, the transition does mark the end of his 15-year tenure as Apple CEO.Apple CEO Tim Cook thanks guests and officials during a ribbon-cutting ceremony for Apple's Advanced Manufacturing Center in Houston, Thursday, Aug. 13, 2026. (AP Photo/Annie Mulligan) (AP Photo/Annie Mulligan)Why is Tim Cook stepping down?Why Cook has not revealed exactly why he stepped down, The Information reported that he plans to spend more time at his vacation home in Palm Springs, California, and “take up more outdoor activities.” He will still remain heavily involved at the company.Also Read | Tim Cook was happy at Compaq. One meeting with Steve Jobs changed his mindCook wrote in an X post himself, “Sending lots of love to the Apple community on my last day as CEO. My title changes tomorrow, but the love I have for the Apple community never will. Thank you for being a constant source of inspiration. My gratitude is endless, and I’m excited for the next chapter!”Cook shared an emotional farewell note with employees as he serves his final days as Apple CEO. He thanked the employees in the memo and that he has “enormous comfort in handing the helm to someone as brilliant and wonderful and capable” as Ternus.Also Read | Quote of the day by Tim Cook as he steps down after 15 years as Apple CEO: ‘Use AI for Humanity’“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,” Cook said in the farewell memo to employees.“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,” he clarified.