man who will fill his old job.>
than four years. Cook left that position to replace Steve Jobs whose health
Apple is changing its management team. CEO Tim Cook Thursday named a man who will fill his old job. Jeff Williams becomes Apple`s first chief operating officer in more than four years. Cook left that position to replace Steve Jobs whose health was failing. Right now, we have more from my interview with Cook for this Sunday`s 60 MINUTES. He addresses one of the biggest controversies the tech giant faces--taxes from overseas assets.
CHARLIE ROSE (60 MINUTES): How do you feel when you go before Congress and they say you`re a tax avoider?
TIM COOK (60 MINUTES): I-- what I told them and what I`ll tell you and-- and the folks watching tonight is we pay more taxes in this country than anyone.
CHARLIE ROSE: Well, they know that. And you should because of how much money you make.
TIM COOK: Well, that-- I don`t deny that. We happy pay it.
CHARLIE ROSE: But you also have more money overseas probably than any other American company.
TIM COOK: We do, because as I said before, two-thirds of our business is over there.
CHARLIE ROSE: Yeah.
TIM COOK: And so, obviously--
CHARLIE ROSE: Why don`t you bring that home, is the question.
TIM COOK: I`d love to bring it home.
CHARLIE ROSE: Why don`t you?
TIM COOK: Because it would cost me forty percent to bring it home. And I don`t think that`s a reasonable thing to do. This is a-- this is a tax code, Charlie, that was made for the industrial age, not the digital age. It`s backwards. It`s awful for America. It should have been fixed many years ago. It`s-- it`s past time to get it done.
CHARLIE ROSE: But here`s what they concluded. Apple is engaged in a sophisticated scheme to pay little or no corporate taxes on seventy-four billion in revenues held overseas.
TIM COOK: That is total political crap. There is no truth behind it. Apple pays every tax dollar we owe.
GAYLE KING: He made that clear.
CHARLIE ROSE: He did. And-- and Apple is not-- Apple is like a lot of other multinational corporations, they`re not bringing some of the profits that they make overseas home because of the tax structure. The interesting thing I ought to say about these two pieces. That-- all of that`s from part two, which is about the challenges facing Apple. What we see in part one is just Tim and this remarkable process in which Apple sort of defines its products designed by Jony Ive, a man that most people don`t know about--
GAYLE KING: Yeah.
CHARLIE ROSE: --who is one of the extraordinary features of this company and of Silicon Valley.
GAYLE KING: But, you know, it`s so interesting to me is Tim Cook rarely gives interviews, so to hear him say anything at all is fascinating to me.
KRISTINE JOHNSON: And to stand firm--
GAYLE KING: Yes.
KRISTINE JOHNSON: --to make his argument.
CHARLIE ROSE: Well, they`re at the center of a lot of important questions for America.
KRISTINE JOHNSON: They sure are.
GAYLE KING: And everybody I know has a iPhone. There you go.
CHARLIE ROSE: That`s why they`re the richest company in Ameri-- in the world.
GAYLE KING: There you go. It`s working for them. Yeah.
You can see Charlie`s 60 MINUTES Sunday interview with Tim Cook on Sunday. We`ll go inside the design process that gave the world products like the iPhone and the iPad. That`s this Sunday right here on CBS.
And ahead, we have a Christmas present from Charlie Rose.
KRISTINE JOHNSON: Yay.
CHARLIE ROSE: He`s such a generous fellow. We advise you to get a cup of cocoa with some marshmallows, joins us-- joins us as he narrates the classic children`s poem, it`s called, `Twas the night before Christmas. I bet you haven`t heard it read this way.
But first, it`s eight-oh-nine, it`s time to check your local weather.
(LOCAL WEATHER BREAK)
KRISTINE JOHNSON: If you`re shopping online for Christmas presents, this could be an important day. Digital expert Nick Thompson is in our Toyota Greenroom to show us why. Plus, how the world`s biggest online retailer is branching out to get your packages delivered. That is all next on CBS THIS MORNING.
CHARLIE ROSE: Right.
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