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Apple COO Tim Cook joins Nike Board

post #1 of 11
Thread Starter 
Nike today announced that it has appointed Apple chief operating office Tim Cook to the company's board of directors.

Cook is the board's 11th director, nine of which are independent, Nike said in a statement. He is also expected to serve on the compensation committee of the board.

"Tim's diverse professional background spans from global manufacturing to general management," said Philip H. Knight, Nike founder and chairman. "His global technology knowledge combined with his experience at one of the world's most recognized brands will make Tim a great asset to our board. We look forward to his contributions to Nike."

At Apple, Cook is responsible for all of the company's worldwide sales and operations, including end-to-end management of the company's supply chain, sales activities, and service and support in all markets and countries. He also heads Apple's Macintosh division, where he reports to Apple chief executive Steve Jobs and plays a key role in the continued development of strategic reseller and supplier relationships.

Before joining Apple in 1998 as senior vice president of worldwide operations, Cook was vice president of corporate materials at Compaq and was responsible for procuring and managing Compaq's product inventory.

Cook earned an M.B.A. from Duke University, where he was a Fuqua Scholar, and a Bachelor of Science degree in Industrial Engineering from Auburn University.
post #2 of 11
Mr. Cook receives a promotion at his full time job with Apple. Now he has time for a part time job which will require significant attention and time. What are the benefits accruing to Apple. Why would SJ agree to this?
post #3 of 11
Quote:
Originally posted by Benton
Mr. Cook receives a promotion at his full time job with Apple. Now he has time for a part time job which will require significant attention and time. What are the benefits accruing to Apple. Why would SJ agree to this?

Cheaper sweatshops? We know Nike's history.
post #4 of 11
iPods made in nike's sweatshops perhaps?
post #5 of 11
Nike does a lot of apparel and understands the direct-to-retail model well. These two companies are more similar than one may first suspect.

/has absolutely no problem with Nike's "sweatshops"
post #6 of 11
Quote:
Originally posted by Benton
Mr. Cook receives a promotion at his full time job with Apple. Now he has time for a part time job which will require significant attention and time. What are the benefits accruing to Apple. Why would SJ agree to this?

Being a director of a company is hardly a "part time job" - more like 100 hours/year of work, all in evening or weekend time most likely.

It is much less of a drain than, say, being in the army reserve on the weekends.
45 2a3 300b 211 845 833
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post #7 of 11
Great, now all the Nike kit will be out of stock as well...
OK, can I have my matte Apple display, now?
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OK, can I have my matte Apple display, now?
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post #8 of 11
All that is required of a Director is they attend the Board of Directors meetings. Al Gore, the president of The Gap, and a lot of other very busy people are on the Apple BOD. Not a big deal. This is just low-level gossip for executives.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

Reply
post #9 of 11
Quote:
Originally posted by SpamSandwich
All that is required of a Director is they attend the Board of Directors meetings. Al Gore, the president of The Gap, and a lot of other very busy people are on the Apple BOD. Not a big deal. This is just low-level gossip for executives.

You have to do a little more than that - just for self preservation. The directors of a company can be liable if the company does something really bad, so you have a lot of due dilligence to do if you want to be a good (i.e. safe) director.
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post #10 of 11
You know those kids' shoes that have flashing LED's in them? That's enough power to keep your iPod charged when you're running on a treadmill...
post #11 of 11
Quote:
Originally posted by e1618978
You have to do a little more than that - just for self preservation. The directors of a company can be liable if the company does something really bad, so you have a lot of due dilligence to do if you want to be a good (i.e. safe) director.

Actually if you do a lot less, you're not held liable since you can claim that you didn't know what the hell was going on. Its the CEOs and high-end executives who get in trouble, not the lame boards.

The BODs generally are filled with Yes-men and fraternity brothers (almost always men and white - you know, the new minority). Its rare for a board to disagree with the CEO, and even rarer for them to get kicked out and replaced (unless, of course, several of the brokerage houses doesn't like someone, then they conspire to kick them out). Incompetence leads to nothing. Major incompetence leads to leaving with a nice parachute to retire on.

But it doesn't take much time or effort. Most members of BODs are members of several boards, and usually have a real job too.
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