Tim Cook was named CEO of Apple, Inc. on August 24, 2011, succeeding Steve Jobs in that role after the co-founder of Apple passed away on October 5th, 2011. Largely credited with having built up and optimized Apple's supply chain, Cook acted as CEO when Steve Jobs took medical leave in early 2011.
Timothy D. Cook was born on November 1, 1960. He attended Auburn University, earning a bachelor's degree in industrial engineering. He continued his education at Duke University, earning a master's degree in business administration. He was hired by Apple in March of 1998, serving as the senior vice president of worldwide operations.
Cook was hired to optimize Apple's supply chain, which suffered from poor manufacturing and distribution channels. His ability to optimize the supply chain allowed Apple to put out products with competitive prices. This was demonstrated best with the release of the iPad, which debuted with a $499 entry price. This ability to sell the device for such a low cost point and still make a profit helped keep the competition in the tablet market at bay for the first year, with competing manufacturers struggling to match both the technology and the price.
Cook took over day-to-day operations of Apple in January of 2011, with Steve Jobs taking a medical leave. After Steve Jobs succumbed to pancreatic cancer, Cook was officially named CEO of Apple, Inc.
In addition to producing new versions of the iPhone, iPad, iPod and Mac, Tim Cook has managed several major events since taking over the position of CEO. Apple declared a cash dividend of $2.65 per share, invested $100 million in an effort to start building some Macs in the U.S., and re-structured the senior staff, including the exit of Scott Forstall, who was the senior vice president of the iOS platform that powers the iPad and iPhone. Apple is also in the process of a major stock buy back program.
Cook is also managing the company through its roughest waters in over a decade. The latest generation of iOS severed ties with Google, and the replacement of Google Maps with Apple's own map application was considered a major misstep by the company, with Apple Maps being riddled with bad data creating some confusion in using the maps application and forcing Tim Cook to apologize for the problems. Apple's profits have never been higher, but high expectations caused them to miss the mark set by analysts, and their stuck price has suffered.
Cook hinted at several new products in the pipeline for Apple, with many believing that the much-rumored Apple television set and/or television settop box would arrive sometime in 2013.