Is Apple Going to Ax Cook?
Rumor has it CEO's days are numbered; is that a good thing?
By Kevin Spak, Newser User
Posted Apr 22, 2013 10:44 AM CDT
In this Tuesday, Oct. 23, 2012, file photo Apple CEO Tim Cook speaks during an event to announce new products in San Jose, Calif.   (AP Photo/Marcio Jose Sanchez, File)

(Newser) – Are Tim Cook's days at Apple numbered? The gadget giant is secretly headhunting for a new CEO, anonymous "Wall Street sources" tell Gene Marcial at Forbes, though Marcial cautions that there's "yet no available evidence" to back the claim up. Even if the rumor is false, Marcial says that "big stakeholders" are beating the drum urging Apple to do so, given the company's recent stock woes.

Douglas Kass threw some gas on the speculation, tweeting, "From my Gnome, high above the Alps—'Is Apple's Tim Cook… Cooked?'" The rumor has generated a lot of chatter in the financial press. Here's what people are saying:

  • Rocco Pendola at The Street is surprised it took this long, gloating that he predicted that a "Fire Tim Cook Bandwagon" would get rolling more than a week ago.
  • Philip Elmer-Dewitt at Fortune says he's been "hearing whispers" of an ouster for weeks. But "the people who want Tim Cook's head on a spike are not friends of Apple," he cautions, adding that Cook still has "the confidence of the board of directors."
  • The real question, writes Tom Bemis at MarketWatch, is "who in their right mind would want to take on such a thankless task as trying to turn Apple around, given the inevitable comparisons with Steve Jobs"? He also points out that Marcial botched a basic fact, stating that Apple had lost half its share price since Cook took over (it's actually up slightly).
  • There's no way Cook deserves the boot, writes Ashraf Eassa at Seeking Alpha. Apple's problem is that in the end, it sells cell phones, and margins will erode. "There's nothing Tim Cook, Steve Jobs, or anybody else can really do about it."

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Showing 3 of 8 comments
M1k3G
Apr 22, 2013 4:34 PM CDT
"There's nothing Tim Cook, Steve Jobs, or anybody else can really do about it." Actually, there is. They can start listening to consumers and design phones people want to buy.
Buckshot
Apr 22, 2013 1:08 PM CDT
Tim Cook is safe as long as they come up with a new device like the watch or the TV. If they don't the overbought stock will keep falling and Cook will ultimately be blamed. The stock price won't hold up forever without being feed new products it's plain and simple Cook has to push or get out of the way..
finkster
Apr 22, 2013 11:32 AM CDT
"Is Apple Going to Ax Cook?" Well, it they are unhappy with the food being served in the cafeteria then yes, by all means fire the cook....