Apple’s late CEO and co-founder Steve Jobs left behind some extremely large metaphorical shoes to fill, but it seem current CEO Tim Cook is handling the demanding job as Apple Inc. CEO well.
poll, run by TheStreet, the majority vote, a strong 78 per cent, believe the new Apple chief is performing excellently, another 19 per cent need more time to decide, stating: “the jury’s still out”. Only 2.5 per cent of all readers who voted consider Cook as a disappointment.
To counteract this, at the
third quarter earnings call yesterday, Apple announced the company made $8.8 billion net profit – there is much debate as to whether that classes
Cook as a disappointment.
Further evidence Cook must be doing his job not too badly is his pay. Cook was given compensation in 2011 that amounted to $378 million, although much of that was tied up in shares that he can’t vest for some years. Nethertheless, just before the earnings call yesterday one Apple share was valued at $600.92, so, while Tim Cook isn’t exactly the highest paid CEO in the world, he could be said to come close – as long as he sticks around at the company.
Coming up to almost a year at the head of the company, Cook has seen the launch of the iPhone 4S, the new iPad and iOS 6 operating system and the release of the MacBook Pro with Retina Display. Still to come are the eagerly anticipated (and as yet only rumoured) iPhone 5 and Apple Television.
Chad Brand, an Apple investor, told The Street that if he had received no news other than that of financial relevance: “It would be hard to know Jobs was not still heading the firm.”
It looks as though Cook isn’t afraid to take the lead as well. If rumours are true and an
iPad mini is in development, something that Jobs never anticipated creating, Cook is clearly happy to take risks and keep pushing the company forwards.
Apple stock falls, is Apple too reliant on the iPhone?