Apple Inc. CEO Wants New Faces On Board As The Company’s Focus Widens

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Apple Inc. CEO Wants New Faces On Board As The Company’s Focus Widens
ElisaRiva / Pixabay

Ever since he took over as CEO of Apple Inc. (NASDAQ:AAPL), Tim Cook has consistently been making changes. But most of his changes in early years have been subtle. In  2014, he has made some significant changes at the world’s most valuable company, reports Daisuke Wakabayashi of The Wall Street Journal in a detailed profile of Mr. Cook.

Tim Cook making significant changes to Apple

The tech giant has agreed to repurchase $100 billion of its shares, biggest ever in the U.S. history. Apple has settled a feud with Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG). Tim Cook recently acquired Beats Electronics for a whopping $3 billion, and decided to keep its brand intact. He has also brought in Angela Ahrendts of Burberry to head Apple’s retail operations, giving a clear signal that it would choose high-profile deputies with a solid track record.

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Last week, Apple hired Swiss watchmaker TAG Heuer’s sales director ahead of the rumored launch of the iWatch. Tim Cook’s bid to bring in fresh blood to the company doesn’t end here. He is also planning to change Apple’s board. Despite being the world’s most valuable company, the iPhone maker has just eight board members. The current board is known to has been loyal to Steve Jobs.

Apple CEO wants fresh blood

Tim Cook promoted Arthur Levinson to be chairman of the company after Jobs. He added Disney boss Bob Iger to the company board. He likely wants to add more people who can advice the tech giant on many of its latest projects including the iWatch or health & fitness features. In the existing board, four directors have been on the board for more than a decade including Millard Dexler and Bill Campbell.

Six of the seven outside directors on Apple’s board are aged 63 or older. Apple has grown a lot bigger in recent years, and the company is planning to enter new product categories. Therefore, Cook is also pushing the company executives to be more collaborative. It’s yet to be seen if Apple under Tim Cook can keep coming up with amazing new products that blow consumers away.

Apple shares inched up 0.48% to $96.43 in pre-market trading Tuesday.

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