Seriously, Apple's Tim Cook Is Taking On An Expanded Role At Nike Right Now?

Thursday evening, Nike announced a change in management, which included Tim Cook taking on an expanded role at Nike as lead independent director. The filing also stated that Phil Knight, the founder of Nike was retiring but would remain involved involved with the company as chairman emeritus.

Tim Cook has been a Nike director since 2005 and is the Chairman of the company's compensation committee.  So, the first words/thought that popped into my mind when I heard the news was, "Seriously, Tim Cook"?

Cook is taking an expanded role at Nike at a time when Apple stock has been stumbling and bumbling around for over a year. High profile investors have bailed on the shares and the company's sales/iPhone unit volumes are in a decline which is more than likely not going to be stemmed any time soon given the chatter on the new iPhone set to be unveiled in a few short months.

Remember my articles on Apple from a year ago? Do the words tinkering come to mind? A new color? No head phone jack?

You cannot be serious, Tim Cook.

It's one thing to be adding to responsibilities if Apple were running at full tilt and the shares were flying high. However, with the shares scraping along close to its 52 week low or just a handful of dollars away from its 52-week low, now is not the time for Tim Cook to take on additional responsibilities at another organization.

Not sure how other shareholders feel about Tim Cook's move, but I am not pleased at all. Especially given the fact that he is making hundreds of millions of dollars already while we shareholders are looking at negative returns for the last couple of years.

Maybe, if Tim Cook wants to continue expanding his role at other organizations and spend time attending Hollywood and Bollywood events, it's high time that Apple gets a CEO that will solely focus all his time and energy on one thing and one thing only: Apple!

I intend to continue selling covered calls against my long position in the underlying shares of Apple.