Tim Cook and Warren Buffett are showing what former CEOs can do for their companies
Tim Cook and Warren Buffett are transitioning into influential post-CEO roles at Apple and Berkshire Hathaway, respectively. Both leaders are leveraging their deep industry connections and diplomatic skills to remain central to their companies' strategic decision-making.
Why it matters
This trend redefines corporate succession, suggesting that iconic leaders can maintain significant influence and value for their organizations long after stepping down as CEO.
Buffett has long been a fan of Apple and Cook's leadership. VALERIE MACON/AFP via Getty Images; Daniel Zuchnik/WireImage Tim Cook and Warren Buffett are showing that former CEOs can remain central players at companies. Cook is poised to help new CEO John Ternus by leveraging his global connections as executive chair. Buffett led Berkshire's huge investment in Alphabet and consults with his successor on major decisions. Two iconic business leaders are showing that stepping down as CEO doesn't have to mean stepping away from a company. Tim Cook resigned as Apple's CEO this month after 15 years in the job, while Warren Buffett ended his six-decade run as Berkshire Hathaway's CEO at the turn of this year. Yet Cook is set to become Apple's executive chair, earning a CEO-sized paycheck and playing an ambassador-like role. As Berkshire's chair, Buffett continues to pick stocks and help make key decisions.
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