I know that comparisons with your previous boss can be harsh. But that’s the inference that’s being drawn with the performance of Tim Cook as CEO of Apple. The matter is up for discussion after Mr Cook’s presentation at the Apple AGM (Annual General Meeting) this week.
His former boss, the late Steve Jobs, is the boss in question. It’s probably not kind to draw attention to the different presenting styles of Steve Jobs and his successor, Tim Cook. They are different. But Mr. Cook has all the skills needed for presenting.
But Apple investors appeared to get little or nothing from his presentation at the meeting. The share price continued to fall as investors rid themselves of stock. The share price has now fallen by some 37% since September 19 last year.
Worried investors are concerned that the Apple business is sitting on $137.1 billion in cash and investments; cash and investments that could be returned to shareholders as a dividend, for example or could be used to buy back shares…or could finance the next wave of product innovation.
The CEO’s presentation at Apple HQ, 1 Infinite Loop in Cupertino, California didn’t shed much light on future product innovation. And that’s the main concern here. Following his presentation, questions were asked about the future direction and strategy of the business.
That’s not a good signal from his investor audience. There’s more than a suggestion that his presentation muddled a message or a set of messages. Net result? Confusion over his future plans and strategy for the business.
The CEO confirmed that his company had plenty of:
in the Apple pipeline. Beyond his overriding focus on long term product innovation, there was no real detail or implicit strategy in his presentation.
But, he managed to secure 99.1% of the shareholder votes for re-election as CEO so he’s clearly got more than a few fans. And let’s not forget that he was the chosen successor of Steve Jobs.
This presentation might prove a blip as a raft of exciting product innovations hit the Apple store in the months ahead. Hold tight.
The Principal Trainer at training business Time to Market. Based in Bracknell, I run presentation and public speaking training courses, coaching sessions and seminars throughout the UK. Andrew Ivey on Google+
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