Now that Apple Inc has announced that Steve Jobs is going to be taking a leave of absence from the company due to health related problems, there are many in the financial industry who are wondering about the health of the company itself. Steve Jobs had a liver transplant just a short year and half ago, and now with a new illness, many are speculating that he might not be able to recover and take back his position at the helm of Apple.
So far, Apple has been very tight lipped about the nature of Jobs' illness, but we can only assume that it must be serious. He isn't known for stepping down for less than severe reasons. So, what about the people who have stock in Apple? Should they be worried? I think that it is important to take a step back and really look at the situation before deciding if it is time to sell your Apple stock.
Not the run-of-the-mill CEO
The reason Job's illness matters, as far as the company is concerned, is that he is a legendary CEO. With most companies, when a CEO leaves, you can be sure that another one will take their place without too much of an impact to the company. But Steve Jobs is the co-founder of the company; is one of the leading innovators in the computer industry and has taken his company to great heights. He left the company once and came back when it was on the verge of collapse. He changed the direction the company was taking and along the way changed the way the world uses technology. So, unlike most CEOs, his presence is connected with the development of Apple products. He is a different type of CEO.
How will Apple do without him?
To be honest, many reports from Apple have labeled Jobs as an aggressive, demanding and mercurial boss. In fact, he was fired from Apple before for just those reasons. His strength to the company isn't his management style, but it is because he is so closely associated with revolutionary products like the iPod, the iPhone and the iPad. So, many people associate his absence with an absence of vision and innovation.
If it isn't the management, then what is it?
It is simple, the man has unparalleled business acumen. He is the sort of leader who knows how to get things done. He helped create Apple, got fired and started other ventures. Apple collapsed and he came back and led them to uncharted success. Oh, and his side projects? Yeah, he didn't do much while he was away from Apple, he just started the company Pixar that he ended up selling to Disney in 2006 He ended up getting 7% of Disney's stock, making him the largest single shareholder. So, he knows how to get deals done.
Should you bail on Apple?
Steve Jobs is a man of legend already and I don't think that will change. That being said, Apple is not a one-man show. When he stepped away from the company in 2009, the company was successful with COO Tim Cook at the wheel. Cook has been with Apple for over 10 years and there are other very talented people at Apple, Inc.
Apple has many new and exciting products in development. Apple has been having a great return even during a time when electronic sales are down. I don't think that Apple is going to fall just because Jobs steps away. I think we will be surprised to see that they will be fine without him.
What do you think about Apple without Steve Jobs? Let me know in the comments.
By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for FinancialJobBank. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.
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