Financial Times names Tim Cook person of the year

As 2014 winds down to a close, it's time to take stock of the year that was, often in the form of "best of" lists and similarly themed articles. The Financial Times, one of the world's leading economic publications, names its person of the year each December, and this time around the editors have chosen Apple Inc. CEO Tim Cook.

According to the Financial Times, 2014 was the year in which Cook finally stepped out of the shadow of his predecessor, Steve Jobs, and came into his own, leading Apple through an unprecedented product rollout to record financial results. The last three months have made the year for Cupertino, starting with the release of the iPhone 6, which shattered sales marks in just its first weekend of availability.

September also saw the introduction of Apple Pay, which went live on October 20 and has already made a significant mark on the U.S. retail industry, and the Apple Watch, the company's first wearable device, which will go on sale in the spring. New hardware (Mac and iPad) and software (iOS 8 and OS X Yosemite) have also contributed to driving Apple's financial results to new heights.

Last month, after weeks of Apple Inc.'s shares regularly setting new record highs, the company's market capitalization surpassed $700 billion, becoming the most valuable enterprise in the world. Most recently, the collaboration between Apple and IBM has begun producing results in the form of 10 enterprise mobile apps.

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