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May 17, 1983: John Sculley becomes Apple’s third president and CEO
Posted by: pRICE cUBE
Date: May 18, 2019 08:27PM

May 17, 1983: John Sculley takes the helm as Apple’s third president and CEO. The former Pepsi-Cola boss is short on tech experience but long on marketing, which will become increasingly important as the personal computer revolution ramps up.
Steve Jobs personally lured Sculley to Apple using one of the most famous lines in the history business. “Do you want to spend the rest of your life selling sugared water,” Jobs asked Sculley, “or do you want a chance to change the world?”

Sculley, who followed previous Apple CEOs Mike Scott and Mike Markkula, joined the company with virtually no knowledge of the tech industry. What he did know was how to sell products — and particularly how to sell them as part of an aspirational lifestyle.

John Sculley brings Pepsi marketing to Apple
He pulled this off at Pepsi, where he helped create the “Pepsi Generation” ads that transformed the soft drink from a low-end Coke ripoff to something altogether better. At Apple, he took the helm of a company facing increasing competition from IBM, which launched the IBM Personal Computer in 1981.

“IBM is a formidable competitor,” Sculley said as he moved to Apple. “But so is Coca-Cola.”

To persuade Sculley to leave his $500,000-per-year job at Pepsi, Apple agreed to pay him $1 million per year, with half coming in salary and half in the form of a bonus. He also got a $1 million signing bonus, a $1 million golden parachute clause in his contract, 350,000 AAPL shares, and money to buy a house in California equivalent to his Connecticut home.

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