Tim Cook

Net Worth

$1,500,000,000

Born in (City)

Alabama

Born in (Country)

Date of Birth

01st December, 1960

Date of Death

Mother

Geraldine Cook

Father

Donald Cook

About

Tim Сооk іѕ а wеll-knоwn buѕіnеѕѕ ехесutіvе frоm Аmеrіса whо іѕ аlѕо а dеvеlореr аnd іnduѕtrіаl еngіnееr. Не іѕ bеѕt knоwn tо bе thе СЕО оf Аррlе, Іnс. Не wаѕ рrеvіоuѕlу thе Сhіеf Ореrаtіng Оffісеr оf Аррlе Іnс. Сооk hаѕ ѕеrvеd іn vаrіоuѕ dеѕіgnаtіоnѕ оf thе соmраnу. Не аlѕо ѕеrvеѕ оn thе bоаrd оf Nіkе. Не іѕ Dukе Unіvеrѕіtу’ѕ truѕtее аnd іѕ аlѕо оn thе bоаrd оf thе Nаtіоnаl Fооtbаll Fоundаtіоn

Early Life

Timothy Donald Cook was born on November 1, 1960 in Alabama. He graduated from the Auburn University with a bachelor’s degree in industrial engineering in the year 1982. He also got his M.B.A. from Duke University in the late 80’s . Before he joined Apple, Tim Cook held a number of impressive positions at major tech companies: a 12-year tenure at IBM, worked up the ranks to become the computer corporation\’s North American Fulfillment director. Then in 1994, he became Chief Operating Officer (COO) at Intelligent Electronics in the Reseller Division. Later he joined Compaq as Vice President of corporate materials, procuring and managing product inventory. During his time at Compaq, which was then the world’s largest PC seller, Cook had already turned down Apple recruiters multiple times, but their persistence finally paid off one day.

Road to Success

Apple constantly provided an offer to Tim Cook but he always refrained to join. But Cook knew that turning down a job at Apple would have meant turning down the opportunity to be part of something special. “I had always thought that following the herd was not a good thing, that it was a terrible thing to do,” Cook said. “But I looked at the problems Apple had, and I thought, you know, I can make a contribution here. So all of a sudden, I thought, I’m doing it. It didn’t make sense. And yet, my gut said, go for it. And I listened to my gut.” In March 1998, Jobs hired Cook, aged 37, as senior vice president of worldwide operations, with a base salary of $400,000 and a $500,000 signing bonus. At the time, Apple was not a place where very many people wanted to work. The company was near-bankrupt and employee morale was low. Cook was well aware that he was inheriting a mess. After six months at Compaq came the turning point of his life. Steve Jobs wanted him to join Apple. Many of the top investors and entrepreneurs including Micheal Dell had said that the future of Apple was not looking very bright. Many suggested him to stay with Compaq which was a secure option but Tim Cook chose otherwise. In March 1998, Tim Cook joined Apple.

Challenges

Apple hoped to offset slowing demand for iPhones by raising the prices of its most important product, but that strategy seems to have backfired after sales sagged during the holiday shopping season. Results released Tuesday revealed the magnitude of the iPhone slump — a 15 percent drop in revenue from the previous year. That decline in Apple’s most profitable product caused Apple’s total earnings for the October-December quarter to dip slightly to $20 billion. CEO Tim Cook blamed sales decline on a mix of factors, including a slowdown in China, foreign exchange rates, a popular battery replacement program and reduced smartphone subsidies from carriers. The shrinking iPhone sales led to Apple’s first holiday quarter revenue decline since 2000. And Luca Maestri, Apple’s CFO, told analysts that the company expects some of the factors highlighted by Cook to continue “affecting iPhone performance” in the current quarter. Still, the earnings were slightly better than the company had warned investors to expect earlier this month, and Apple stock gained 5% in extended trading.

Failures

Designed to replace the preloaded Google Maps on iPhones, Apple Maps came as the default map app for iPhone and iPad in 2012. Unfortunately, Apple Maps also came with a collection of serious issues, from faulty directions to oddly distorted images. Apple Maps was CEO Tim Cook’s first fiasco following the death of Steve Jobs in 2011, and it got so bad that Cook apologized for the unsteady app. It seemed very UnApple like, but it was smart. He acknowledged company’s error and promised to improve the maps. It’s still a big blot on his record but still he handled well.

Achievements

He was named one of ‘Forbes’ magazine's ‘World's Most Powerful People’ in 2011.|In 2015, Cook was inducted into the ‘Alabama Academy of Honor,’ the highest honor given by Alabama to its citizens.|He received an honorary doctorate from ‘George Washington University’ in 2015.

Quotes

The sidelines are not where you want to live your life. The world needs you in the arena.
It’s been tough and uncomfortable at times, but it has given me the confidence to be myself, to follow my own path, and to rise above adversity and bigotry. It’s also given me the skin of a rhinoceros, which comes in handy when you’re the CEO of Apple.