Apple's pending purchase of headphone maker and streaming music company Beats Electronics for USD 3.2 billion is just the latest example of Cook's deviation from Jobs, who had so much confidence in his company's innovative powers that he saw little sense in spending large amounts of money on acquisitions.
Cook became chief executive in late August 2011, roughly six weeks before Jobs died. But in a number of ways, he is just beginning to put his own imprint on Apple. Cook is straying from Jobs' cash-hoarding habits by committing to return USD 130 billion to shareholders through dividends and stock buybacks. He has orchestrated a company stock split and agreed to match employees' charitable contributions up to USD 10,000 annually.
The shift in management philosophy has resulted in an odd twist: Apple Inc.'s pace of innovation has slowed and it now looks more like a conventional company than the corporate rebel Jobs tried to cultivate. Instead of releasing revolutionary gadgets such as the iPod, iPhone and iPad, Apple has been mostly upgrading existing products and figuring out ways to manage its bulging bank account since Cook took over.
Cook has repeatedly sought to assure investors and customers that Apple remains focused on inventing "insanely great" products, even though the company's last breakthrough, the iPad, came out in April 2010, 18 months before Jobs died of cancer.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
