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Apple's Board of Directors has expressed concern about the company's "pace of innovation" according to a report from Fox Business Network's Charlie Gasparino. The board is normally extremely secretive and, if accurate, this report is unlike anything we've heard from inside the company in recent years.
From what we understand, there is concern at the board level, sources are telling the Fox Business Network, about the pace of innovation over at Apple. What have they had lately? They had the iPad and a few other things, but they don't have anything innovating from what came from Steve Jobs and that concern is basically manifesting into pressure on Tim Cook to innovate, and to do something fast.
We should point out, this is an interesting boardroom drama. It does not mean that Tim Cook is out of a job or that there is a job search out there, we don't know that and I don't believe that is happening. In fact, sources inside Apple are saying that's not the case.
What we are able to confirm is that the board is worried about what is in the pipeline. Do they have the right stuff in the pipeline? Do they have innovative stuff in the pipeline? Do they have stuff to keep the momentum going?
Apple's stock is currently down 35% from its all-time highs earlier this year, though the stock has made a bit of a run recently. Tim Cook's two-year anniversary as CEO of Apple is coming up on August 24th, and the company is expected to introduce new models of the iPhone and iPad this fall.
Thanks Scott!
Top Rated Comments
I'm gonna call shenanigans on this rumour.
Asking Tim Cook to innovate is like asking Dexter to not suck this final season.
Asking Tim Cook to innovate is like asking Breaking Bad to suck this final season.
Asking Tim Cook to innovate is like asking Twitter for 141 characters.
Asking Tim Cook to innovate is like asking Jony Ive to change the newsstand icon.
Asking Tim Cook to innovate is like asking OS X installation screen to print the correct estimated amount of time left.
Asking Tim Cook to innovate is like asking for Ocean's 14.
Asking Tim Cook to innovate is like asking for a bag of cookies where all cookies are intact.
Asking Tim Cook to innovate is like asking for Lay's to make Lay's Ketchup for USA.
Asking Tim Cook to innovate is like asking for NBC to do the Tonight Show right.
Asking Tim Cook to innovate is like asking that dude that's texting while crossing the street to walk faster.
I agree with the Board of Directors. There has been nothing *phenomenal* from Apple recently, at least not at the pace other smartphone and PC manufacturers have put out groundbreaking products.
What other tech companies are revolutionizing the world with their products?
Here come the arm chair CEOs.
I vote this as the best, most accurate comment on these forums ever.