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Corporate growth is a narrative deeply intertwined with the influence of visionary CEOs. The importance of Steve Jobs’ leadership in propelling Apple to its zenith cannot be understated. His larger-than-life persona contrasts sharply with Tim Cook’s more subdued leadership, despite Apple currently holding over 10% of the US GDP.
Jobs’ exit from Apple in 1985 marked a significant turning point in the company’s history. John Sculley, former CEO of PepsiCo, engineered Jobs’ dismissal due to disagreements over product development and market strategy. After being ousted, Jobs founded NeXT, a high-end computer manufacturer. In 1996, Apple acquired NeXT, reinvigorating Jobs’ presence in the company.
The pivotal September 16, 1997, saw Steve Jobs return to Apple as CEO, rejuvenating its vision and leading to groundbreaking innovations like the iPhone in 2007.
Tim Cook succeeded Jobs after his health-related resignation in 2011. Under Cook’s leadership, Apple has seen impressive stock market success with a gain of over 1,500% since September 2011. However, Apple’s growth has been largely stagnant in other areas. Annual iPhone shipment volumes have fluctuated between 200 million and just under 250 million units since 2015.
Moreover, Tim Cook’s compensation is notably high, costing the company $529,000 for every 1% of average annual total stock return. In comparison, NVIDIA’s CEO Jensen Huang’s costs are significantly lower at just $30,000 per 1%.
The future seems uncertain under Cook, with Apple spending over $100 billion on stock buybacks in 2025, a time when AI initiatives face challenges. Many wonder if Jobs would have approved such a large return to shareholders during an AI-critical phase.
In summary, while Apple has thrived financially, its innovation and market presence have been lackluster without Jobs’ visionary leadership.
