Tim Cook has grown Apple $1.5bn a month for 77 months
A study from Kittleman has named Tim Cook as the CEO with the greatest impact on growth, with Apple having seen an average monthly rise in revenue of $1.57bn during his 77 months as CEO of the company.
Tim Cook has been a strong advocate of maintaining Apple as a leading innovator, whilst much of his success as CEO can also be attributed to the company owning a significant portion of the market share upon his appointment.
Cook stands significantly ahead of any other CEO, with Larry J Merlo of CVS named second with a $860mn average monthly rise for 82 months, followed by Verizon’s Lowell McAdam with $725mn for 77 months.
CEO of Alphabet, Sundar Pichai, is ranked as the fourth most influential CEO in terms of growth, having raised the revenue of Google’s parent company by $546mn a month during the 27 months that he has been at the company, demonstrating that changes in leadership can often have a profound effect in the short term.
Meanwhile, Warren Buffett and Jeff Bezos were also both named in the top 10, despite having served significantly longer tenures. As head of Berkshire Hathaway, Buffett has grown the company’s revenue at an average rate of $354mn a month for an extensive period of 632 months (over 52 years).
“By diversifying the companies and subsidiaries that Berkshire Hathaway owns and operates, Buffet proves that slow and steady can continue to reap profits for his massive company,” said Kittleman.
Similarly, Bezos has grown Amazon by $484mn across his 281-month tenure, simultaneously becoming the world’s richest man in Forbes’ Billionaires Rich List for 2018, demonstrating the benefits of long term stable leadership.
“After studying the graph and the ranking, it’s interesting to see that 24 companies out of 50—nearly half—saw revenue impacted when the CEO was approximately 4 to 8 years into the position,” Kittleman continued. “This tells us that once a CEO settled into the job, assessed what was working and what areas needed improvement, and put plans in place for growth, the company saw noteworthy revenue impact.”
For more information, see the full rankings and infographic from Kittleman.
G7 Summit guide: What it is and what leaders hope to achieve
Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration.
Who are the G7?
The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like.
The merry band comprises:
- The United Kingdom
- The United States
Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.
Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda.
When was the ‘G’ formed?
Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s.
Why does the G7 exist?
At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted.
The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability.
It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations.
Where is the 2021 G7 summit?
This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall.
What will be discussed this year?
After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”
The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values.
According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.”