Tim Cook's 9 Years As Apple CEO: How He Took Apple To $2 Trillion Valuation
While COVID-19 is wreaking havoc on our world, its people as well as economies and businesses, some have managed to make a huge chunk of money in this chaos.?
One of the companies that have managed to do so is the Cupertino giant Apple, and it’s all thanks to Tim Cook.
Yesterday marked the ninth anniversary of the day Tim Cook took over the reins of the massive tech company after the visionary Steve Jobs decided to step down post his health conditions deteriorating due to cancer. On August 24, 2011, a new chapter commenced at Apple and things were never the same.?
Steve Job’s Letter
Steve Jobs, in the letter announcing his resignation and Cook succeeding him to be the next CEO, said, “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come. I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.”
He added, “As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple. I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.”
Tim Cook & Apple
Tim Cook arrived at Apple in 1998, coming from the PC manufacturing company Compaq. His forte from the very beginning has been a master of operations involving clever management of resources.?
A recent Wall Street Journal article revealed how Cook has an extreme attention to detail. He wakes up at 4:00 AM every day and looks at global sales data. Every Friday he connects with operations and finance teams and addresses issues.?
In his time we’ve seen devices like the Apple Watch and AirPods truly make people fall in love with them. However, even before launching something new, he is very particular about not ruining the company’s track record.?
Another thing we saw in Tim Cook to emphasize on was selling services like Apple News, Apple TV+, Apple Music and Apple Arcade that actually brought in a considerable amount of revenue.?
Today, under his guidance, the company has reached a valuation of over $2 trillion as the sales continue to soar, and are expected to spike even more with the iPhone 12’s that are expected to launch in the coming months. Tim Cook has also joined the billionaires club, becoming one of a handful CEOs in the world to do so.?