Advertisement
UK markets open in 1 hour 3 minutes
  • NIKKEI 225

    38,356.78
    +804.62 (+2.14%)
     
  • HANG SENG

    17,187.01
    +358.08 (+2.13%)
     
  • CRUDE OIL

    83.51
    +0.15 (+0.18%)
     
  • GOLD FUTURES

    2,341.50
    -0.60 (-0.03%)
     
  • DOW

    38,503.69
    +263.71 (+0.69%)
     
  • Bitcoin GBP

    53,602.25
    +162.49 (+0.30%)
     
  • CMC Crypto 200

    1,437.98
    +23.22 (+1.64%)
     
  • NASDAQ Composite

    15,696.64
    +245.33 (+1.59%)
     
  • UK FTSE All Share

    4,378.75
    +16.15 (+0.37%)
     

Apple Boss Tim Cook: I'm Lonely But I Don't Want Sympathy

Tim Cook has said running Apple (NasdaqGS: AAPL - news) is "sort of a lonely job" in a rare interview to mark five years at the helm of the company.

The in-depth, two-session Washington Post interview runs to 10,000 words, and covers everything from what it felt like to replace Steve Jobs to who he turns to for advice.

He admits he is "lonely" but adds: "I'm not looking for any sympathy. CEOs don't need any sympathy."

He also acknowledges two big mistakes - the first was the release of the Apple Maps app, which was widely criticised.

The second was hiring Briton John Browett - a former boss of electrical chain Dixons - to oversee the firm's retail stores.

ADVERTISEMENT

Mr Cook said: "He didn't fit here culturally is a good way to describe it. We all talked to him, and I made the final decision, and it was wrong.

"We fairly quickly recognised it and made a change. And I'm proud we did that."

When he took control of Apple after Steve Jobs' death in 2011 he had big shoes to fill - Mr Jobs co-founded and rescued the company from the doldrums in the 1990s.

Apple's boss told the Washington Post: "To me, Steve's not replaceable. By anyone. He was an original of a species. I never viewed that was my role. I think it would have been a treacherous thing if I would have tried to do it."

Apple's major product is the iPhone and Mr Cook said he is "convinced" every person in the world will have a smartphone, and that they will become even more entrenched in our lives.

"AI [artificial intelligence] will make this product even more essential to you. So where you probably aren't leaving home without it today - you're really going to be connected to it in the future."

But he warned investors to be realistic and think long term when it comes to Apple's financial performance.

"Last year we were $230bn. And, yes, we're coming down some this year. Every year isn't an up, you know. I've heard all of it before."

When you're leading one of the world's biggest companies, there are not many people you can confidently turn to for advice.

But when he does need guidance he seeks out former US President Bill Clinton, and billionaire investor Warren Buffet.

He added: "That doesn't mean I always do what they say."