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Tim Cook took over for the late Steve Jobs as Apple's CEO in August 2011. Prior to that, Cook served as Apple's chief operating officer.
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Only a few months before I'd accepted the job at Apple, Michael Dell, the founder and CEO of Dell Computer, was publicly asked what he would do to fix Apple, and he responded, 'I'd shut it down and give the money back to the shareholders,'" Cook explained to Auburn graduates in 2010.
Soon after Cook came on board, however, things began to look a little brighter at Apple. As the corporation's chief operating officer,
Cook was responsible for managing all sales and operations worldwide, including sales activities, and service and support. He was also a leader of the company's Macintosh division and in developing reseller/supplier relationship strategies. Less than a year after Cook his Apple debut, the corporation was reporting profits (fiscal year 1998)—an extraordinary shift from it's fiscal 1997 report showed a net loss of $1 billion from the prior fiscal year.
In August 2011, Cook was named Apple's new CEO, taking over the position for former CEO and Apple co-founder Steve Jobs, who died in October 2011 after a years-long battle with cancer. In addition to serving as CEO, Cook sits on the corporation's board of directors.
In November 2011, Cook was named one of Forbes magazine's "World's Most Powerful People." According to an April 2012 article in The New York Times, Cook was the highest-paid CEO among large publicly traded companies in 2012. While his salary at Apple amounts to around $900,000, Cook reportedly brings in several millions of dollars annually due to other forms of compensation, including stock awards and bonuses. In 2011, Cook reportedly made $378 million in total compensation.
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