It was only last month when Apple CEO Steve Jobs took a rather hasty medical leave of absence from the company, while retaining his post as the CEO. Numerous reports have surfaced on the internet which claim that Steve Jobs has no more than four weeks to live. In light of that, Apple’s investors are demanding a succession plan from Apple as to who will assume the top office of Apple CEO when Steve Jobs steps down. Hit the break for more details.
The request for Apple to disclose its succession plan got louder due to he increasing support from shareholder advisory group Institutional Shareholder Services (ISS).
The ISS’ statement, included on a proposal which is to be voted upon at Apple’s general company meeting on Feb. 23, says:
ISS believes that shareholders would benefit by having a report on the company’s succession plans disclosed annually. Such a report would enable shareholders to judge the board on its readiness and willingness to meet the demands of succession planning based on the circumstances at that time.
From the looks of it, the shareholders request is quite fair in all aspects. Obviously, those who hold shares in Apple worth considerably high, would definitely be worried about what path the company might take in the future once Steve Jobs steps down and as we know, Steve Jobs is the best thing that ever happened to Apple. So for a new CEO to take Apple to the exact same heights like Steve Jobs did, demands some skepticism.
However, the meeting ended and the request was rejected. So we shall have to wait a couple of months before there is any official word from Apple, telling us who is to take the top job at Apple as CEO.
Apple COO Tim Cook, seems to be a strong candidate for the post of Apple CEO. Primarily, Cook is credited with pulling Apple out of manufacturing by closing factories and warehouses around the world which drastically increased margins for Apple. While Tim Cook has also served as acting CEO, one in 2004 for two months when Steve Jobs was recovering from pancreatic surgery, once in 2009 for several months when Steve Jobs was away for a liver transplant, and following Steve Job’s current medical leave of absence, Tim Cook is still the acting CEO of Apple.
We can only speculate as to who will become the CEO of Apple. Let us see if an official announcement is due to come in the next few months.