Interesting strategy by CEO Tim Cook for Apple’s success: he kept senior managers in the company, even if they never worked, and paid them a fortune!
September 2, 2024
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Tim KokHe replaced Steve Jobs as CEO of Apple in 2011. We saw Apple continue to rise during Cook’s time in power. So much so that the tech
Tim KokHe replaced Steve Jobs as CEO of Apple in 2011. We saw Apple continue to rise during Cook’s time in power. So much so that the tech giant managed to become the most valuable company in the world. Its current value is It amounted to $3.481 trillion.
There weren’t many details about what happened within Apple’s senior management while Cook was at the helm. So far, we haven’t seen any major changes other than those who retired and a few who left. Bloomberg’s Mark Gurman brought us some new information on the matter and what strategy Cook is pursuing. According to Gurman, CEO Tim Cook said: keeping people loyal to Apple It keeps senior employees within the company even though they work very little for it.
Apple has paid fortunes over the years to its senior managers who never worked
In fact, this strategy dates back to the time when Steve Jobs died. He played a very important role on the hardware side of Apple after Jobs died. Bob Mansfield He wanted to leave the company. This is a major concern for investors. Kok also Mansfield by offering a large sum of money It allowed him to stay with the company longer.
Even more interesting is that Mansfield has been busy for a while hardly works. So much so that, according to Gurman, Mansfield worked very little until Apple Car, Apple’s recently canceled self-driving car project, launched. Despite this, the fortune was still paid.
Cook, Apple’s highly successful designer in 2015 On Jon Ive also used the same strategy. I wanted to leave the company but it didn’t happen. The reason is that Cook told him a lot of money and work 1 or 2 days a week went to bid. Ive eventually left the company and founded his own company in 2019, but new information revealed that he had been working in this manner for four years. Despite this, Apple made statements that I had made a “major contribution” to the projects during the four-year period.
It is also reported that the same tactic is still being used. at the top of the App Store Phil Schiller one of them. He announced in recent weeks that he would resign from his position. CFO Luca Maestri And the final example. Maestri, who will leave the CFO position in 2025, will continue to advise Tim Cook and receive money from Apple.
We can say that the tactic of paying so much money despite working little is a controversial tactic. But Apple does not lack money. It seems like it will never happen. The company is currently one of the most valuable and most loved companies in the world. So it may have been successful to use this tactic over the years. However, the question is whether it is still necessary when we have grown so much. The departure of a director unknown to most of the public would probably not shake the current confidence in Apple much.
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.