Ondrej Holzman Tim Cook met with shareholders for the first time in his role as CEO, to whom he announced that Apple is preparing stunning products for this year. However, he did not want to be more specific. He did not answer the question whether Apple is preparing its own television. There was also talk of the company's high capital and Steve Jobs.
"You can be sure that we are working very hard to have a successful year where we want to introduce products that will amaze you," 51-year-old Cook said at the annual meeting of Apple shareholders. The event took place at the company's headquarters in Cupertino, California, lasted about an hour, and Apple (as usual) will not provide any recording of it. Even reporters were not allowed to record the meeting, use computers during it, or sit in the main hall where Apple's top executives were present. A special room was prepared for journalists, where they watched everything on video.
Cook was joined on stage by Chief Marketing Officer Phil Schiller and Chief Financial Officer Peter Oppenheimer, who answered questions for about half an hour. Members of Apple's board, including former US Vice President Al Gore and Disney CEO Bob Iger, watched everything from the front row. A smaller group then protested in front of the building against the conditions of workers in Chinese factories.
Steve Jobs was also mentioned at the meeting, after which Cook took over the reins of the company last October. "There isn't a day that goes by that I don't miss him," Cook admitted, thanking fans for their condolences. However, he immediately added that the great sadness that reigned at Apple was transformed into a determination to continue on the established path, because that is what Steve would have wanted.
After that, Cook spoke about the main topics. He stated that together with the board, they are constantly thinking about how to deal with the almost one hundred billion capital that Apple has. Cook said that while Apple has already invested billions in hardware, in its stores and in various acquisitions, there are still many billions of dollars left. "We have already spent a lot, but at the same time we still have a lot left. And frankly, it's more than we need to run the company." Cook admitted. Regarding the distribution of shares, he told those present that Apple is constantly considering the best solution.
The speech also came to Facebook. The relationship between Apple and the popular social network has been speculated several times recently, so Cook put everything into perspective when he called Facebook a "friend" with which Apple should work more closely. Similar to what it does with Twitter, which it implemented into its operating systems.
Then, when one of Cook's shareholders, in response to speculation about a new Apple television, asked if he would prefer to return his new one, which he had just purchased, the Apple executive just laughed and refused to comment further on the matter. On the contrary, he advised everyone to consider buying an Apple TV.
As part of the annual meeting, shareholders also expressed support for all eight directors and approved a proposal that board members would need a supermajority vote to be re-elected. This system will not come into effect until next year, but this year no member of the council would have a problem, as they all received more than 80 percent of the vote. Apple's board is currently as follows: Tim Cook, Al Gore, Intiuit Chairman Bil Campbell, J. Crew CEO Millard Drexler, Avon Products Chairman Andrea Jung, former Northrop Grumman CEO Ronald Sugar and former Genentech CEO Arthur Levinson, who replaced in November the role of chairman Steve Jobs. Disney's Iger also joined the board that same month.
Tim Cook himself received the most support, 98,15% of shareholders voted for him. Cook introduced each director and thanked them for their excellent service. At the end, he also thanked the investors. "Thank you to everyone who has been with us and trusted us all these years," Cook added.
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