Tim Cook has worked as Chief Executive Officer of Apple. Since August 2011, American business executive and engineer
Apple CEO Tim Cook graduated with a bachelor’s degree in industrial engineering from Auburn University and received an MBA from the Fuqua School of Business at Duke University.
Cook went on to executive positions at Intelligent Electronics and Compaq, after a 12-year stint at IBM, before joining Apple in 1998. Cook was appointed the new CEO of Apple in August 2011, following the death of his predecessor, Steve Jobs.
Early Life and Education
In the small town of Robertsdale, Alabama, on November 1, 1960, Tim Cook was born Timothy D. Cook. Tim Cook attended Robertsdale High School, graduating second in his class in 1978, the middle of three sons born to father Donald, a shipyard worker, and mother Geraldine, a homemaker.
He enrolled at Auburn University in Alabama, graduating with a bachelor’s degree in industrial engineering in 1982, and then received a master’s degree in business administration from the Fuqua School of Business at Duke University in 1988. Also, the title of Fuqua Scholar was awarded to Cook, an honor granted only to business school students who graduate in the top 10% of their class.
Early Career of Tim Cook
Fresh from graduate school, Tim Cook embarked on a computer engineering career. He was employed by IBM, where he rose the ranks to become the North American fulfillment director of the corporation, overseeing both North and Latin American manufacturing and distribution functions for IBM’s Personal Computer Business.
In 1994, Tim Cook became the chief operating officer of the Reseller Division at Intelligent Electronics after a 12-year career at IBM. He joined the Compaq Computer Company after three years as vice president of corporate materials, responsible for sourcing and inventory management of the device. But his tenure there was a short-lived one: Cook left for a job at Apple after a six-month stint at Compaq.
Career at Apple
“My most important discovery so far in my life has been the result of a single decision: my decision to join Apple,” Cook said about 12 years after joining the company, speaking at the starting ceremony of Auburn University in 2010.
It wasn’t an easy choice, however: in early 1998, Tim Cook started working for Apple, before the company introduced the iMac, iPod, iPhone, or iPad, and when it saw decreasing revenues instead of profit growth. According to Tim Cook , he was initially dissuaded from doing so before accepting his position at Apple because the future of the business looked very bleak.
He told the Auburn graduates, “Although Apple made Macs, the company had been losing sales for years and was widely considered to be on the verge of extinction.” “Michael Dell, the founder, and CEO of Dell Computer was publicly asked what he would do to repair Apple just a few months before I accepted the job at Apple, and he answered, ‘I would shut it down and give the money back to the shareholders.'”
But after Cook came on board as a vice president, things quickly changed. The corporation was announcing income less than a year after its Apple launch, an unprecedented change from a previous study that revealed a net loss of $1 billion from the prior fiscal year.
As Cook became executive vice president and then a chief operating officer, he assumed responsibility for overseeing worldwide sales and operations, as well as heading the Macintosh division and helping to improve reseller/supplier ties.
Cook was appointed Apple’s new CEO in August 2011, taking over the position of former CEO and Apple co-founder Steve Jobs, who died after a years-long battle with cancer in October 2011. As well as acting as CEO, Cook also sits on the board of directors of the company.
Apple announced its largest acquisition to date in May 2014, when it acquired Beats Music and Beats Electronics for $3 billion. Beats co-founders Dr. Dre and Jimmy Iovine will join Apple in executive positions as part of the contract.
Cook said in a letter to Apple staff, “This afternoon we revealed that Apple is acquiring Beats Music and Beats Electronics, two fast-growing companies that will complement our product line and further expand Apple’s potential ecosystem. Bringing together our businesses paves the way for beautiful inventions that our customers would enjoy.
Following this, Cook unveiled the latest version of Apple’s desktop and mobile operating system, OSX Yosemite, at the Worldwide Developers Conference in June 2014. Cook released the iPhone 6 and iPhone 6 Plus in September of the same year, both of which had larger screen sizes and came with new features such as Apple Pay and “Burst Selfies.”
He also revealed the first new product under his reign, the “Apple Watch,” available for purchase in 2015, a wearable device to monitor fitness and health.
Tim Cook continued to oversee the creation of innovative products such as Clips, an app that made it possible for social media to make short videos. A few months after its release in spring 2017, Apple unveiled the iPhone X, which created hype for its facial recognition technology in the tech world.
The company launched the Apple News app along the way to give consumers access to content from a wide variety of outlets. Apple launched a 2018 mid-term election section in June 2018, which promised to pull curated content from legitimate sources as well as exclusives like the Election Now dashboard of The Washington Post through November.
Addressing the question of why he felt the need to funnel news to consumers that way, Tim Cook said, “For Apple News, we felt that top stories should be chosen by humans, not being political at all, but … to make sure you don’t choose a material that’s purely intended to enrage citizens.”
Tax Rates and Other Controversies
During his time as Apple CEO, Cook confronted mounting inquiries concerning the organization’s system of putting away pay abroad. In a 2013 hearing before the Senate, Tim Cook dismissed the idea that he was endeavoring to sidestep U.S. charge laws, noticing that Apple was paying one of the most elevated compelling expense paces of any significant company.
The hole of the “Heaven Papers” in November 2017 offered new disclosures of the assessment practices of Apple: In 2014, after the European Union dispatched an examination concerning Apple’s game plan with the Irish government, with the organization paying a duty rate as low as 0.005% on its broad property in the nation, Apple moved its resources for the Channel Islands off Normandy. The EU later arranged Apple to hand over roughly $14.5 billion in unpaid charges.
After the Paradise Papers surfaced, the organization delivered an explanation that reads: “Apple accepts each organization has to settle its charges, and as the biggest city on the planet, Apple pays each dollar it owes in each nation around the globe.”
In late December 2017, Apple was hit with different claims in the wake of admitting to purposefully easing back the exhibition of maturing iPhones. Done to adjust to decreasing batteries, the organization dealt with indictments that it was deluding clients into paying more for new models.
Around that time, it was uncovered that Tim Cook had been educated he could utilize just personal luxury planes for business and individual vehicles, “in light of a legitimate concern for security and effectiveness.” The CEO’s movement costs for 2017 indicated $93,109, while his security costs added up to $224,216.
World Impact and Salary
In November 2011, Tim Cook was named one of Forbes magazine’s “Reality’s Most Powerful People.” According to an April 2012 article in The New York Times, Tim Cook was the most generously compensated CEO among huge traded on open market organizations in 2012.
While his pay at the time added up to around $900,000, Cook in 2011 allegedly made $378 million in complete pay from stock honors and rewards. In 2015, he reported that in the wake of paying for his nephew’s advanced degree, he would give the remainder of his fortune to humanitarian undertakings.
In August 2018, soon after Apple turned into the main American public organization to arrive at an estimation of $1 trillion, it was accounted for that Tim Cook was set to gather roughly $120 million in stock.
Tim Cook had gotten a limited stock honor in the wake of assuming control over the CEO work in 2011, meeting the edge that necessary the organization’s stock to outflank those of 66% of S&P 500 organizations over a time of three years.
Investing in the United States and Philanthropy
In mid-2018, Apple swore to put $350 billion in the U.S. economy and include 20,000 new openings throughout the following five years. As a major aspect of the arrangement, the organization focused on putting $55 billion every 2018 alone and construct another U.S. office controlled by a sustainable power source. Furthermore, Apple said it would support its serious assembling store and extend its coding activities, intended to support understudies and educators learn important processing abilities.
Toward the beginning of February, The Wall Street Journal revealed that Apple Music had been expanding its month to month memberships in the U.S. market at more than twofold the pace of Spotify, leaving Apple on target to pass its opponent by mid-year. Nonetheless, Spotify was still well ahead around the world, with 70 million paying endorsers of Apple’s 36 million as of January 2018.
In March 2020, after the episode of the COVID, Apple declared that the organization had given $15 million to aid ventures far and wide. Half a month later, Cook uncovered that Apple had started creating face shields and wanted to send a large number of them to clinical specialists in the weeks to come.
In October 2014, Tim Cook affirmed in a sentiment piece he composed for Bloomberg Businessweek that he is gay. “While I have never denied my sexuality, I haven’t openly recognized it either, as of not long ago,” he composed. “So let me get straight to the point: I’m pleased to be gay, and I consider being gay among the best endowments God has given me.”
Tim Cook likewise composed that he is propelled by these expressions of Dr. Martin Luther King Jr.: “Life’s generally relentless and critical inquiry is, ‘What are you accomplishing for other people?'” He disclosed that his choice to set his protection aside and unveil his sexual direction was a significant advance in upholding basic liberties and correspondence for all.
“I don’t view myself as a dissident, yet I understand the amount I’ve profited by the penance of others,” he wrote in the commentary piece. “So if hearing that the CEO of Apple is gay can help somebody battling to deal with who the person is, or carry solace to any individual who feels alone, or move individuals to demand their uniformity, at that point, it merits the compromise with my protection.”
In October 2019, it was accounted for that Cook had been selected director of the warning board for Tsinghua University’s financial matters school in Beijing, China.
Awards and honors
- Financial Times Person of the Year (2014)
- Ripple of Change Award (2015)
- Fortune Magazine’s: World’s Greatest Leader. (2015)
- Alabama Academy of Honor: Inductee. (2015)
- Human Rights Campaign‘s Visibility Award (2015)
- Honorary Doctor of Science from the University of Glasgow in Glasgow, Scotland (2017)
- Courage Against Hate award from Anti-Defamation League (2018)