Of course now everybody is saying, “Apple does not need Steve Jobs, there is a strong management”. I say, no it will be different. Here’s why, with factual references to multiple companies.
Quick name me the CEO of IBM? Do you know the name? Sam Palminsano! Did you know that? Do you remember the name of the previous CEO? Lou Gerstner.
Now quick name the CEO of GE? Jeffrey R Immelt. Did you know that? Do you remember the previous CEO? Jack Welch.
Next company, name me the CEO of Microsoft? Ok this is easy, Steve Ballmer. But has Steve been performing? Remember the previous CEO, Bill Gates!
The list goes on and includes companies like Nokia (Prev prev CEO), EBay, etc. Now look at companies where the original CEO either has remained or has come back. StarBucks, Dell, Amazon, Oracle, and APPLE. Now look at the share prices of these individual companies and their well known CEOs vs their lesser know CEO’s. Or more aptly put the lesser known CEO who carries the fire from the previous CEO.
The reality is that the company suffers in a major way for shareholders. And this is the same fate for Apple. Of course everybody says, “oh but Apple will keep producing good products.” Really? That will make the difference, because quick, you better ask Microsoft and IBM on what they are doing wrong. Because both IBM and MSFT have produced excellent products since their more well known CEO’s have left.
The reason why this happens is because as one New Yorker said on the German news, “Apple is a cult, and the cult leader is Steve”. Without the cult leader there is no reason for people to be in the cult. It just is not the same. Saying, “oh look I have this cool smartphone like Tim Cook, just does not cut it!” And to say, “oh but Apple has good designers like Ive.” And yes Microsoft has some legendary programmers like Anders! Yet it ain’t helpin MSFT’s share price!
So sorry, but call me sceptical on the Apple share price keeping its mojo going!