On June 18 1993 John Sculley’s 10-year run as Apple CEO came to an end. As Cult of Mac recalls, it followed AAPL stock collapsing from $4.33 a share in 1992 to 73 cents a share in 1993.

A few things led to Sculley’s departure. He wanted to move back to the East Coast, and considered taking the role of CEO at IBM. He was also heavily involved in politics, supporting Bill Clinton’s presidential campaign. From the perspective of Apple’s board, he was too involved with the Newton, at a time when Apple was facing increased competition from rivals. After Sculley stepped down, the Apple CEO role was handed over to Michael Spindler, formerly the company’s COO. Sculley remained Apple chairman until October 1993, departing with a golden parachute of around $10 million.

Check It Out: John Sculley Stepped Down as Apple CEO on This Day in 1993 After AAPL Stock Collapse

2 Comments Add a comment

  1. lkrupp215

    Michael Spindler, aka “The diesel”, rumored to have been found hiding under his desk when things went further south.

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