Monday, 18 February 2013

Tim Cook

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Tim Cook
Born Timothy D. Cook
November 1, 1960 (age 52)
Robertsdale, Alabama, U.S.
Alma mater Auburn University (B.S.)
Duke University (M.B.A.)
Occupation CEO, Apple
Board member of Apple
Nike (2005—present)
Signature
Timothy D. "Tim" Cook (born November 1, 1960) is the CEO of Apple Inc.[1] Cook joined Apple in March 1998[2] as SVP of Worldwide Operations and also served as EVP of Worldwide Sales and Operations and was COO[3] until he was named the CEO of Apple on August 24, 2011, succeeding Steve Jobs, who died on October 5, 2011, from pancreatic cancer. Cook had previously served as acting CEO of Apple after Jobs began a medical leave in January 2011.[4]
In early 2012, he was awarded compensation of 1 million shares, vesting in 2016 and 2021, by Apple's Board of Directors.[5] As of 2012, Cook's total compensation package of $378 million[6] makes him the highest paid CEO in the world.[7]

Contents

Early years

Cook grew up in Robertsdale, Alabama, near Mobile. His father was a shipyard worker, while his mother was a homemaker. Cook graduated from high school at Robertsdale High School, earned a B.S. degree in industrial engineering from Auburn University in 1982,[8] and his M.B.A. from Duke University's Fuqua School of Business in 1988.[9]

Career

Cook served as the chief operating officer (COO) of the computer reseller division of Intelligent Electronics.
He also spent 12 years in IBM's personal computer business as the director of North American Fulfillment.[2]
Cook was VP for Corporate Materials at Compaq for seven months before he was hired by Steve Jobs to join Apple in 1998.

Apple

At Apple, his first assignment was Senior Vice President for Worldwide Operations.[2] According to CNN, he had a "mandate to clean up the atrocious state of Apple's manufacturing, distribution, and supply apparatus". Cook is credited with pulling Apple out of manufacturing by closing factories and warehouses around the world. This helped the company reduce inventory levels and streamline its supply chain to match the efficiency of Dell Inc., dramatically increasing margins. These initiatives have proven key to Apple's success in unveiling next-generation products, keeping them secret until they are ready for distribution to retail, forecasting demand and executing against that forecast. Cook has been 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". [10]
In January 2007, Cook was promoted to COO.[11]
Cook served as Apple CEO for two months in 2004, when Jobs was recovering from pancreatic cancer surgery. In 2009, Cook again served as Apple CEO for several months while Jobs took a leave of absence for a liver transplant.
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.[12] After Jobs resigned as CEO and became chairman of the board, Cook was named CEO of Apple Inc. on August 24, 2011.[13][14]
Cook also serves on the board of directors of Nike.[3]
In April 2012, Time Magazine included Cook on its annual 100 Most Influential People in the World list.[15]
On October 29, 2012, Cook made major changes to the company's executive team. Scott Forstall resigned as senior vice president of iOS, becoming an advisor to Cook until his scheduled departure from the company in 2013. John Browett, who was SVP of retail, was dismissed after six months on the job (having received 100,000 shares worth $60 million when he joined).[16] 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, while services chief Eddy Cue took over responsibilities for Maps and Siri, and Bob Mansfield (previously SVP of hardware engineering) returned to oversee a new technology group.[17] This came after Q3 revenues and profits grew less than predicted, which was the second quarter in a row that Apple failed to meet expectations.[18] One commentator said that Forstall was forced to step down as Cook "has decided to lance the boil as internal politics and dissent reached a key pitch". Cook's direction since becoming CEO was to build a culture of harmony, which meant "weeding out people with disagreeable personalities—people Jobs tolerated and even held close, like Forstall",[19] although another journalist said that "Apple's ability to innovate came from tension and disagreement."[20]
In December 2012, Cook confirmed that Apple would invest $100 million in building some Macs in the United States again starting in 2013.[21][22]

Personal life

Cook is a fitness enthusiast and enjoys hiking, cycling, and going to the gym. He regularly begins sending emails at 4:30 a.m. and used to hold Sunday night staff meetings by telephone to prepare for the next week.[10]
While giving the 2010 commencement speech at Auburn University, Cook emphasized the importance of intuition in guiding his life's biggest choices, and followed by stating that preparation and hard work are also necessary to execute on that intuition.[23]
Cook donates large amounts of money to charity, including $100 million in 2012.[24]

References

  1. ^ "Steve Jobs Resigns as CEO of Apple". Apple. 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. ^ "Timothy Cook News". The New York Times.
  5. ^ After Jobs: Apple's Cook gets $380M in compensation
  6. ^ http://www.cbsnews.com/8301-501465_162-57356881-501465/steve-jobs-successor-tim-cook-highest-paid-ceo
  7. ^ Steve Jobs' successor Tim Cook highest paid CEO
  8. ^ Wright, Sharla (October 25, 2005). "Engineering Alumnus Named COO of Apple". Auburn University. Retrieved July 26, 2007.
  9. ^ Love, Julia (January 14, 2009). "Fuqua grad takes reins at Apple". The Chronicle (Duke University). Retrieved February 11, 2011.
  10. ^ a b Lashinsky, Adam (November 10, 2008). "The genius behind Steve". CNN. Retrieved May 25, 2010.
  11. ^ Helft, Miguel (January 23, 2011). "The Understudy Takes the Stage at Apple". The New York Times. Retrieved February 11, 2011.
  12. ^ "Apple boss Steve Jobs takes 'medical leave'". BBC. January 17, 2011. Retrieved February 11, 2011.
  13. ^ "Steve Jobs resigns from Apple, Cook becomes CEO". Reuters. August 24, 2011. Retrieved August 24, 2011.
  14. ^ Wingfield, Nick (October 16, 2006). "Apple's no. 2 has low profile, high impact". The Wall Street Journal. Retrieved October 16, 2006.
  15. ^ "The 100 Most Influential People in the World". Time Magazine. April 12, 2012. Retrieved August 15, 2012.
  16. ^ http://www.cultofmac.com/163180/apple-welcomes-new-retail-vp-john-browett-with-60-million-in-stock
  17. ^ "Apple Announces Changes to Increase Collaboration Across Hardware, Software & Services". Apple Inc.. 2012-10-29. Retrieved 2012-10-29.
  18. ^ Arthur, Charles (30 October 2012). "Apple's Tim Cook shows ruthless streak in firing maps and retail executives". The Guardian.
  19. ^ http://www.forbes.com/sites/erikamorphy/2012/10/30/this-is-tim-cooks-apple-a-company-where-mini-steve-gets-the-axe
  20. ^ http://www.businessinsider.com/ex-employee-why-firing-scott-forstall-was-a-mistake-2012-11
  21. ^ "Apple CEO Tim Cook says company to build some Macs in U.S.". Los Angeles Times. 6 December 2012. Retrieved 7 December 2012.
  22. ^ "Apple CEO Tim Cook interviewed by NBC's Brian Williams". Los Angeles Times. 6 December 2012. Retrieved 7 December 2012.
  23. ^ Auburn University Spring 2010 Commencement Speaker Tim Cook. Auburn University. May 14, 2010. Retrieved August 27, 2011.
  24. ^ "Apple's softer side emerges under Cook". 3 News NZ. December 10, 2012.

External links

Wikimedia Commons has media related to: Tim Cook
Business positions
Preceded by
Steve Jobs		 CEO of Apple
2011–present		 Incumbent
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