Tim Cook Looking For A New Board of Directors
A recent report published by The Wall Street Journal talks about the profile of Apple CEO Tim Cook as he shapes “his” company Apple. The report talks about Tim Cook’s plan to hire a new Board of Directors.
That includes Apple’s board. According to people familiar with the company, Mr. Cook is actively seeking new directors to add to Apple’s eight-person board, known for its loyalty to Mr. Jobs. Six of the seven outside directors are aged 63 or older. Four of them have served for more than a decade, including two who have been on the board since the late 1990s: former Intuit Corp. INTU -1.50% Chief Executive Bill Campbell and J. Crew Group Inc. Chief Executive Millard S. “Mickey” Drexler.
Most of the members of the current board of directors were appointed by Steve Jobs. Cook has only made a few additions and changes to it by appointing Disney CEO Bob Iger and promoting Art Levinson to non-executive Chairman of the Board. The publication talks about current board’s loyalty to Jobs and making things difficult for Cook as he reforms Apple to retain its leadership position in the market.
One of the former Apple employee describes Tim Cook as a “peacetime CEO” and Jobs as “wartime CEO.” “The only thing that Steve cared about was creating great products. The company, the employees were only there to facilitate that goal,” he said. “Tim is much more worried about everything at the company.”
Looking at Cook’s recent hiring, it is quite probable, with new segments being launched, Tim Cook will seek experts from within the industry.
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