Tim Cook

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Tim Cook
Tim Cook 2009 cropped.jpg
Cook in January 2009 after the Macworld Expo
Born Timothy Donald Cook
(1960-11-01) November 1, 1960 (age 53)
Mobile, Alabama, U.S.
Alma mater Auburn University (B.S.)
Duke University (M.B.A.)
Occupation CEO, Apple
Net worth Increase$400 million (est.)
Board member of
Apple
Nike (2005—present)
National Football Foundation
Signature Tim Cook Signature.svg

Timothy Donald "Tim" Cook (born November 1, 1960) is an American business executive, and is the CEO of Apple Inc.[1] Cook joined Apple in March 1998[2] as Senior Vice President (SVP) of Worldwide Operations—he also served as Executive Vice President (EVP) of Worldwide Sales and Operations—and was Chief Operating Officer (COO) until he was named the CEO of Apple on August 24, 2011, when he succeeded Steve Jobs.[3] (Cook had previously served as acting CEO of Apple after Jobs began medical leave in January 2011.)[4] In early 2012, he was awarded compensation of one million shares, vesting in 2016 and 2021, by Apple's Board of Directors.[5]

Cook also serves on the board of directors of Nike, Inc.[3] and the National Football Foundation.[6]

Early life and education[edit]

Cook was born in Mobile, Alabama, United States (U.S.),[7] and grew up in nearby Robertsdale. His father was a shipyard worker, and his mother worked at a pharmacy.[7]

Cook graduated from Robertsdale High School. He earned a B.S. degree in industrial engineering from Auburn University in 1982,[8] and his Master of Business Administration (MBA) from Duke University's Fuqua School of Business in 1988.[9]

Career[edit]

Before Apple[edit]

After graduating from Auburn University, Cook spent 12 years in IBM's personal computer business, ultimately serving as the director of North American Fulfillment.[2] Later, he served as COO of the computer reseller division of Intelligent Electronics, and was VP for Corporate Materials at Compaq for six months.[10]

Apple[edit]

Cook was asked by Jobs to join Apple in 1998. In a commencement speech at Auburn University, Cook said he decided to join Apple after meeting Jobs for the first time:

Any purely rational consideration of cost and benefits lined up in Compaq's favor, and the people who knew me best advised me to stay at Compaq... On that day in early 1998 I listened to my intuition, not the left side of my brain or for that matter even the people who knew me best... no more than five minutes into my initial interview with Steve, I wanted to throw caution and logic to the wind and join Apple. My intuition already knew that joining Apple was a once in a lifetime opportunity to work for the creative genius, and to be on the executive team that could resurrect a great American company.[11]

His first assignment was SVP for Worldwide Operations.[2] In relation to the role, Cook was quoted as saying: "You kind of want to manage it like you're in the dairy business. If it gets past its freshness date, you have a problem".[12] Cook closed factories and warehouses, replacing them with contract manufacturers, causing a reduction in the company's inventory, from months to days. Predicting its importance, his group invested in long-term deals such as advance investment in flash memory from 2005 onwards, guaranteeing stable supply of what would become a key iPod nano, then iPhone and iPad component. Competitors at HP, describing their cancelled TouchPad tablet computer, would later say that it was made from "cast-off reject iPad parts."[13] Cook's actions were credited with keeping costs under control and, combined with the company's design and marketing savvy, generated huge profits.[14]

In January 2007, Cook was promoted to the position of COO[15] and served as CEO in 2009, while Jobs was away on a leave of absence to manage his health. In January 2011, Apple's Board of Directors approved a third medical leave of absence requested by Jobs. During that time, Cook was responsible for most of Apple’s day-to-day operations, while Jobs made most major decisions.[16][17]

CEO[edit]

After Jobs resigned as CEO and became chairman of the board, Cook was named CEO of Apple Inc. on August 24, 2011.[18][19] Six weeks later, on October 5, 2011, Jobs died due to complications from a relapse of his previously treated islet-cell neuroendocrine pancreatic cancer.[20] Forbes contributor Robin Ferracone wrote in September 2011: Jobs and Cook proceeded to forge a strong partnership, and rescued the company from its death spiral, which took it from $11 billion in revenue in 1995 down to less than $6 billion in 1998 ... Under their leadership, the company went from its nadir to a remarkable $100 billion today.[17]

In April 2012, Time included Cook on its annual "100 Most Influential People in the World" list.[21] On June 11, 2012, iOS 6 was announced at the Apple Worldwide Developers Conference (WWDC)—the announcement included a MacBook Pro with Retina display; updated MacBook Air and Pro lines; Airport Express N Routers and Time Capsules; OS X Mountain Lion; and Apple Maps,[22] which subsequently garnered criticism from consumers. (At the 2013 All Things Digital conference, Cook admitted that Apple "screwed up" with Apple Maps.)[23]

At a special media event on September 12, 2012, Cook announced the release of the new iPhone 5, the iPod Nano, and a new iPod Touch.[24] An invitation-only media event was held on October 23, 2012 to announce the release of: the iPad Mini tablet, the 4th generation iPad, a 13-inch MacBook Pro with Retina display, a new thinner iMac, an updated version of the Mac Mini, and iBooks 3.0.[25]

On October 29, 2012, Cook made major changes to the company's executive team. Scott Forstall resigned as senior vice president of iOS, and became an advisor to Cook until he eventually departed from the company in 2013. John Browett, who was SVP of retail, was dismissed six months after he commenced at Apple, when he received 100,000 shares worth US$60 million.[26] Forstall's duties were divided among four other Apple executives: design SVP Jonathan Ive assumed leadership of Apple's Human Interface team; Craig Federighi became the new head of iOS software engineering; services chief Eddy Cue became responsible for Maps and Siri; and Bob Mansfield, previously SVP of hardware engineering, became the head of a new technology group.[27]

Cook's executive changes occurred after the third quarter of the fiscal year (Q3), when revenues and profits grew less than predicted.[28] One commentator said that Forstall was forced to step down, as Cook "decided to lance the boil as internal politics and dissent reached a key pitch". Since becoming CEO, Cook focused upon building a harmonious culture that meant "weeding out people with disagreeable personalities—people Jobs tolerated and even held close, like Forstall";[29] although, another journalist said that "Apple's ability to innovate came from tension and disagreement."[30]

In 2013, Apple quietly introduced a cheaper iPod Touch model without a rear camera and updated its MacBook Pro retina model. Apple showcased iOS 7 and OS X Mavericks at its annual Worldwide Developers Conference (WWDC) on June 10–14. Apple also introduced a new MacBook Air carrying Intel's latest Haswell CPUs and the latest WiFi technologies, being the first computer company to adopt the IEEE 802.11ac standard. At WWDC, Cook also announced an updated Mac Pro that is 8 times smaller than its previous model.

Alongside Google vice-president Vint Cerf and AT&T CEO Randall Stephenson, Cook attended a closed-door summit held by President Obama on August 8, 2013 in regard to government surveillance and the Internet in the wake of the Edward Snowden NSA incident.[31][32]

On February 28, 2014, Cook made headlines when he challenged shareholders to "get out of the stock" if they didn't share the company's views on sustainability and climate change.[33]

Leadership style[edit]

As Apple Inc. CEO, Cook regularly begins sending emails at 4:30 a.m. and previously held Sunday-night staff meetings by telephone to prepare for the next week.[12] Cook shared the keys to his leadership at Apple in May 2013: people, strategy, and execution; he explained, "If you get those three right the world is a great place."[34] Under Cook's leadership, Apple has increased its donations to charity, and in 2013, he hired Lisa Jackson, formerly the head of the Environmental Protection Agency, to assist Apple with the development of its renewable energy activities.[35][36][37]

Personal life[edit]

Cook is a fitness enthusiast and enjoys hiking, cycling, and going to the gym—he uses an off-campus fitness center away from staff and colleagues.[12] Cook is known for being mostly solitary and very little is publicly known of his personal life.[37] Cook was misdiagnosed with multiple sclerosis in 1996, an incident he said made him "see the world in a different way." He has since taken part in charity fundraising such as cycle races to raise money for the disease. Cook later told an Auburn alumni magazine that his symptoms came from "lugging a lot of incredibly heavy luggage around."[38]

While delivering the 2010 commencement speech at Auburn University, Cook emphasized the importance of intuition during significant decision-making processes in his life, and further explained that preparation and hard work are also necessary to execute upon intuition.[39]

References[edit]

  1. ^ "Steve Jobs Resigns as CEO of Apple". Apple Inc. August 24, 2011. Retrieved August 25, 2011. 
  2. ^ a b c "Timothy D. Cook Profile". Forbes. 
  3. ^ a b "Nike — Investors — Corporate Governance — Board of Directors". Nike. 
  4. ^ Kopytoff, Verne G.; Streitfeld, David. "Times Topics: Timothy Cook News". The New York Times. Retrieved April 30, 2013. 
  5. ^ After Jobs: Apple's Cook gets $380M in compensation
  6. ^ "National Football Foundation Chairman, President and Board of Directors". National Football Foundation. 
  7. ^ a b Michael Finch II: Tim Cook – Apple CEO and Robertsdale's favorite son – still finds time to return to his Baldwin County roots. AL.com, February 24, 2014.
  8. ^ Portrait of New Apple CEO Tim Cook as a Young Auburn Student: The War Eagle Reader
  9. ^ Love, Julia (January 14, 2009). "Fuqua grad takes reins at Apple". The Chronicle (Duke University). Retrieved February 11, 2011. 
  10. ^ "The genius of Steve". CNN. August 24, 2011. Retrieved October 4, 2013. 
  11. ^ Cook, Tim. "Commencement Address at Auburn University, 2010". Fast Co Design. 
  12. ^ a b c Lashinsky, Adam (November 10, 2008). "The genius behind Steve". CNN. Retrieved May 25, 2010. 
  13. ^ Ziegler, Chris. "Pre to postmortem: the inside story of the death of Palm and webOS". The Verge. Retrieved 11 September 2014. 
  14. ^ Lashinsky, Adam (November 10, 2008). "The genius behind Steve". CNN. 
  15. ^ Helft, Miguel (January 23, 2011). "The Understudy Takes the Stage at Apple". The New York Times. Retrieved February 11, 2011. 
  16. ^ "Apple boss Steve Jobs takes 'medical leave'". BBC News. January 17, 2011. Retrieved February 11, 2011. 
  17. ^ a b Robin Ferracone (13 September 2011). "An Outsider's View of Apple's Succession Plan". Forbes.com. Forbes LLC. Retrieved 25 August 2014. 
  18. ^ "Steve Jobs resigns from Apple, Cook becomes CEO". Reuters. August 24, 2011. Retrieved August 24, 2011. 
  19. ^ Wingfield, Nick (October 16, 2006). "Apple's no. 2 has low profile, high impact". The Wall Street Journal. Retrieved October 16, 2006. 
  20. ^ Biddle, Sam (October 19, 2011). "Steve Jobs Worked the Day Before He Died". Gizmodo. Archived from the original on 2012-06-24. Retrieved October 21, 2011. 
  21. ^ "The 100 Most Influential People in the World". Time. April 12, 2012. Retrieved August 15, 2012. 
  22. ^ Meghna (12 June 2012). "WWDC 2012: Key Products Launched at Apple WWDC". Techstroke. Techstroke. Retrieved 25 August 2014. 
  23. ^ Latest Video (2013-05-28). "Apple CEO Tim Cook Kicks Off D11 - Ina Fried - D11". AllThingsD. Retrieved 2014-07-09. 
  24. ^ Brendan Murphy (12 September 2012). "The Vergecast: Apple's iPhone 5 announcement - September 12th, 2012". The Verge. Vox Media, Inc. Retrieved 25 August 2014. 
  25. ^ "Posts tagged with "october 23"". MacStories. MacStories. 24 October 2012. Retrieved 25 August 2014. 
  26. ^ Alex Heath (April 25, 2012). "Apple Welcomes New Retail VP John Browett With $60 Million In Stock". Cult Of Mac. 
  27. ^ "Apple Announces Changes to Increase Collaboration Across Hardware, Software & Services". Apple Inc. October 29, 2012. Retrieved October 29, 2012. 
  28. ^ Arthur, Charles (October 30, 2012). "Apple's Tim Cook shows ruthless streak in firing maps and retail executives". The Guardian (London). 
  29. ^ Morphy, Erika (October 30, 2012). "This is Tim Cook's Apple: A Company Where 'Mini-Steve' Gets the Axe". Forbes. Retrieved May 2, 2013. 
  30. ^ Jay Yarow (November 12, 2012). "Fired Apple Executive Scott Forstall 'Was The Best Approximation Of Steve Jobs That Apple Had Left'". Business Insider. Retrieved May 2, 2013. 
  31. ^ Juliette Garside (August 9, 2013). "Apple, Google and AT&T meet Obama to discuss NSA surveillance concerns". The Guardian. Retrieved August 12, 2013. 
  32. ^ Tony Romm. "Apple’s Tim Cook, tech executives meet with Barack Obama to talk surveillance". Politico. Politico LLC. Retrieved August 12, 2013. 
  33. ^ http://tech.fortune.cnn.com/2014/03/01/apple-cook-shareholders-sustainability/"Apple's Tim Cook picks a fight with climate change deniers". CNN. March 1, 2014. Retrieved March 1, 2014. 
  34. ^ "Apple CEO and Fuqua Alum Tim Cook Talks Leadership at Duke". The Fuqua School of Business, Duke University. May 29, 2013. 
  35. ^ Patel, Nilay. "Tim Cook boasts about Apple's charitable contributions during internal all-hands meeting". The Verge. Retrieved May 21, 2013. 
  36. ^ "Apple's softer side emerges under Cook". 3 News NZ. December 10, 2012. 
  37. ^ a b Walter Smyth (2 March 2014). "Tim Cook Coming Into His Own". Mobility Digest. Mobility Digest. Retrieved 25 August 2014. 
  38. ^ Kane, Yukari. "The Job After Steve Jobs: Tim Cook and Apple". Wall Street Journal. Retrieved 11 September 2014. 
  39. ^ Auburn University Spring 2010 Commencement Speaker Tim Cook. Auburn University. May 14, 2010. Retrieved August 27, 2011. 

External links[edit]

Business positions
Preceded by
Steve Jobs
CEO of Apple
2011–present
Incumbent