Yesterday was Tim Cook’s 90th and final earnings call. He took a moment to say farewell, in his inimitable way:
Before we get into questions, I just wanted to take a moment to say thank you. Thank you to all of you, from our shareholders, particularly our long-term shareholders who have put their trust in us for so many years, to the analysts who have followed our company so closely. As you know, this will be my final earnings call, and John will lead these calls going forward. The transition is going seamlessly, and I am beyond excited for John to step into his new role and lead Apple into its next era. He is truly one of a kind and there is no better person to take the helm of the company.
As I’ve said, I couldn’t be more confident in his leadership, in our executive team, and in the extraordinary people at Apple who are determined to enrich the lives of our users all over the world. We have a bright future ahead, and I truly have never been more optimistic. So thank you all, and now Kevan and I will be happy to take your questions.
I’ve been listening to Cook’s earnings calls for as long as he’s been leading them. This was him at his most emotional—almost 20 percent sentimental, the rest pure business.
I keenly recall when Tim Cook was named CEO on August 24, 2011. Not because Cook becoming CEO was itself a momentous occasion, but because it was the result of Steve Jobs relinquishing the role. It represented a seismic shift in my world as I knew it, the first time in ten years that my management chain at Apple—four levels up—had changed.
I always thought of Jobs as “my CEO,” but Cook was “my CEO” for far longer: twelve years by the time I left Apple, fifteen when Cook finally steps down at the end of August.
I’ll miss his measured, unmistakable Alabama drawl as he reminds everyone on the earnings call, “This is Tim.”
Many of the analysts on Cook’s final call offered their congratulations on his run as CEO, expressing how much of a pleasure it was working with him or that they’ll miss him. (His response to most: “I really appreciate it.”) My favorite comment, though, was from Wamsi Mohan of Bank of America:
Tim, first, congrats on your tenure as CEO. You joined back in 2011 when Apple reported $108 billion in revenue and you just delivered a quarter of $109 billion. So just an amazing journey […] it’s been a pleasure.
I suppose it’s to be expected that a financial analyst would focus on revenue, but it crystallized for me Cook’s enduring legacy: an economic engine that churned out ever-increasing profits. He led Apple to unfathomable financial heights and made a lot of people a lot of money.
A pleasure indeed.
(Excerpts courtesy of Jason Snell’s transcript.)
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