Steve Jobs resigned from his position as CEO of Apple today.
All of us remember that first time we glanced at our first Apple product. For me, that was an iPod Classic (5th Gen) 60Gb; it was a moment of sheer joy for me. Through that, I was introduced to a different perspective of the tech world; one that paired style to technological excellence. Then came my first Mac.
As Apple enthusiasts, what we realize is that we don’t just follow the brand due to the quality of products alone, but because the person that introduced us to it, made us feel right at home.
Steve Jobs is not just the man that co-founded, was ousted off, and then revived Apple. He is the man that – wearing his signature turtleneck and jeans combo – everyone expects to see introducing Apple’s innovations. For his ideas revolutionized the world of music, made us rethink what a phone could do, and has redefined how we use our computers.
For all his greatness as a person, and his service to the world, he had his own issues to battle with. In mid-2004 he was diagnosed with cancer, and although he was successfully treated, his unstable condition required that he is granted an indefinite medical leave of absence.
Will Apple continue on being the company Steve nurtured?
As is the hype right now, the most appropriate answer would be a resounding “No”. All companies are built around an icon, and Apple’s icon was Steve Jobs. He doesn’t go out the door with his followers prepared to embrace his successor. It’s all of a sudden that this happens, and it’s because he didn’t expect he would have to step down either. But let’s take a step back. Tim Cook has assumed the position of interim CEO three times in the past, due to Steve’s health issues. It’s one thing being a CEO, and having accumulated a certain expertise, and another to have been trusted to do the job in such emergency situations. Tim Cook has time and time again proved that he can deliver high quality results even under immense pressure, the exact pressure that all Apple fans put the company under when everyone feared for Steve Jobs’s life. We can assume, that in a way, Tim Cook was being prepared to assume the position all along.
Surely many “non-believers” rushing to sell their stock, and the negative hype of the latest news will drive Apple’s Stock Price down, but the steady good sales and the introduction of the new generation MacBook Air, iPhone, iCloud and the array of products to come, will restore the balance.
As per his request, Steve Jobs was elected the new Chairman of the Board of Directors.
Who is Tim Cook?
Tim Cook has served as the Vice President of Corporate Materials of Compaq for 6 months.
He has also served as the COO (Chief Operating Officer) of the Computer Reseller Division of IE (Intelligent Electronics) and has spent 12 years in IBM as the Director of North American Fullfillment.
Tim Cook has been credited with improving Apple’s supply chain management, by closing several warehouses and factories around the world, effectively reducing inventory levels and increasing margins.
Although he was promoted to the position of COO of Apple in 2007, Tim Cook has served as interim CEO three times in the past (2004, 2009, 2011) when Steve Jobs had to remain off-duty due to health issues.
In his letter to Apple’s Board of Directors, Steve Jobs writes:
I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.
I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.
Thank you for everything,
The AppleCasts Team