CEO Tim Cook: With everything Tim Cook has done for Apple Inc. (NASDAQ:AAPL) since taking over as CEO, it is a shame that there are many who think the time for him to leave the company has come.
Over the past few weeks, with Apple Inc. (NASDAQ:AAPL) shares dropping like a rock, some are calling for his head.
But is this fair? Do recent struggles really mean the tech giant should think about kicking Cook to the curb and bringing in fresh blood?
If you believe a recent article published on Forbes, the answer is yes:
“Some Wall Street sources close to some Apple executives say such a move is afoot, although there’s yet no available evidence that the board of the once-mighty top tech-innovator is officially in such a game-changing mode. But if it isn’t yet pursuing such a goal, it should, according to some big stakeholders, who have trimmed their Apple holdings.”
While the Forbes piece starts off by alluding to the fact that this rumor has legs, there are no names thrown around as far as the “sources” are concerned. This is red flag number one that this is nothing more than a rumor that is being spread without any merit.
The article goes on to add the following:
“So unless Apple CEO Cook announces something really dramatic in new products or astronomical earnings on Tuesday, the stock will surely decline even more. And so will Tim Cook’s standing with shareholders and investors — and Wall Street. That may finally signal his exit.”
Now that we have all the propaganda out of the way, let’s dig in and take a closer look at why it makes sense for Apple Inc. (NASDAQ:AAPL) to keep Cook as its CEO for the time being.
First and foremost, there is no reason to jump the gun. Companies, especially those the size of Apple, go through cycles of ups and downs. Can you recall anybody calling for Cook’s job at the end of 2012?
In other words, you cannot judge Cook’s performance based on a rough stretch in the markets that was to be expected at some point in time. Was Steve Jobs perfect? Definitely not.
We all know that Apple Inc. (NASDAQ:AAPL) stock has taken a hit as of late. It is under $400 and investors are concerned.
But remember one thing: Apple is actually up 12 percent since Cook took over as CEO. This is often times overlooked due to the company’s recent struggles.
Let’s not stop there. Instead, here are a few other things Cook has done for Apple Inc. (NASDAQ:AAPL) since taking over as CEO:
1. Oversaw the first dividend in 17 years
2. In a brief period of time, he has shown he is more charitable than former CEO Steve Jobs
3. He’s a supply chain guru
4. Has helped the company further branch into new markets, such as China
5. iPad mini. Enough said.
Although it is easy to jump on the “bash Tim Cook” bandwagon, much in the way the aforementioned piece on Forbes has done, it is time to look at the facts. It is time to realize that Cook has done far more good than harm during his time as Apple Inc. (NASDAQ:AAPL)’s CEO.
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