Jobs: I'm OK, Butt Out
Jobs: I'm OK, Butt Out
by , 8:10 AM EDT, July 28th, 2008
In a rare move Apple CEO Steve Jobs commented publicly on his health over the weekend to say that he doesn't have cancer, and that his well being is a private matter despite what the media says. Mr. Jobs shared his personal health secrets with Joe Nocera of The New York Times where he confirmed that he had been dealing with something more serious than the "common bug" Apple originally reported, and that he is not suffering from a life-threatening illness.
Public concerns over Mr. Jobs's health increased after The New York Post claimed "many" people were worried about his current condition. The article was published on the same day that Apple held its third quarter earnings report conference call, and Lehman Brothers analyst Ben Reitzes asked the company to comment on the article and Mr. Jobs's health.
Apple COO Tim Cook responded "Ben, Steve loves Apple. [Mr. Jobs] serves at the CEO at the pleasure of Apple's board and has no plans to leave Apple. Steve's health is a private matter."
Those health worries, coupled with Apple's secrecy, may have played a part in the company's sharp drop in stock value later in the day.
Mr. Jobs didn't seem pleased with the extra focus on his health status, and wasn't exactly congenial when he called Mr. Nocera. Their phone conversation started with Mr. Jobs saying "You think I'm an arrogant [expletive] who thinks he's above the law, and I think you're a slime bucket who gets most of his facts wrong."
Despite his attitude, concerned investors finally got the information they were looking for. The way they received it, however, may not have left them happy. Instead of addressing investors directly, Mr. Jobs released the information through a journalist under an agreement that kept almost all of their conversation off the record.
Mr. Jobs isn't the first public figure to keep health issues from the public. U.S. President Franklin Delano Roosevelt, for example, went to great lengths to hide his ailments.
Right or wrong, the odds of Mr. Jobs breaking from his history of keeping his personal life private are very slim, which means that public concern over his health isn't likely to subside any time soon.
Observer Comments
While the decision to keep his health private may be Jobs' prerogative at this juncture, it would also make sense of him to take advantage of this crisis of faith to address the issue of succession, which will inevitably come up again at a later date, even if he is given a clean bill of health tomorrow.
Dr. Tantillo ('the marketing doctor') did a recent post on his branding blog (http://blog.marketingdoctor.tv), asserting that Jobs and Apple are two separate brands--Jobs one that is irreplaceable but that can, at this juncture, help ensure Apple's longevity--and that, with the question of Jobs' health at least being raised, this is definitely the time to do so.
Full post: http://blog.marketingdoctor.tv/2008/07/24/brand-advisory.aspx
While the decision to keep his health private may be Jobs' prerogative at this juncture, it would also make sense of him to take advantage of this crisis of faith to address the issue of succession, which will inevitably come up again at a later date, even if he is given a clean bill of health tomorrow.
Dr. Tantillo ('the marketing doctor') did a recent post on his branding blog (http://blog.marketingdoctor.tv), asserting that Jobs and Apple are two separate brands--Jobs one that is irreplaceable but that can, at this juncture, help ensure Apple's longevity--and that, with the question of Jobs' health at least being raised, this is definitely the time to do so.
Full post: http://blog.marketingdoctor.tv/2008/07/24/brand-advisory.aspx
QuoteGuest wrote:
While the decision to keep his health private may be Jobs' prerogative at this juncture, it would also make sense of him to take advantage of this crisis of faith to address the issue of succession, which will inevitably come up again at a later date, even if he is given a clean bill of health tomorrow.
I agree, despite the run-on sentence. [/snark]
It seems to me that much of the fear is generated by Apple's history of picking bad CEOs. Other than Jobs, can you name a CEO at Apple that did a good job? A defined successor would remove a good deal of the worry from the markets. Otherwise, if something happens to Jobs, it will be up to the Board to choose his successor.
But what if Mr. Jobs plans to be at Apple another 20 years?
How many times do we want to risk having the "No succession plan" press cycle run if/when the anointed successor gets tired of waiting in the wings, gets in a car accident, or decides that they've got enough money and don't need to work any more?
It's pretty idiotic for a 50-something CEO to appoint a CEO-in-waiting unless the CEO has already announced a departure date.
reinharden
That's exactly the point. Apple cannot be dependant on Jobs forever. He may PLAN to be at Apple for 10, 20, even 30 years, but he might not be. Having a clear successor or more likely pool of obvious successors at hand is a good idea. It makes the company appear more stable long term.
The possible successors would gain experience by running departments. As the years go by people may come and go but the pool would remain. Even if Jobs stays as CEO for another 40 years, there would still be a pool of people in the wings. The difference being that rather than being 10 or 15 years younger they would be 30 to 40 years younger. The important thing is that the markets would know that there willalways be someone ready to step in and maintain continuity at Apple.
Quotegeoduck wrote:
That's exactly the point. Apple cannot be dependant on Jobs forever. He may PLAN to be at Apple for 10, 20, even 30 years, but he might not be. Having a clear successor or more likely pool of obvious successors at hand is a good idea. It makes the company appear more stable long term.
I cannot think of any other company that is asked to do this.
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