Wednesday evening’s announcement from Apple (Nasdaq:AAPL) that CEOSteve Jobs was resigning could hardly be called a surprise, but it will certainly accelerate a transition process that has been ongoing in fits and starts for a number of years. Apple has tapped a solid manager to replace Jobs, but competition in Apple’s core markets is heating up and investors may be right to wonder whether the company can maintain its over-the-horizon vision and ultra-confident operating strategy without such a rare visionary leading the show.
News That Really Isn’t New
That health issues would eventually force Steve Jobs to step down from his CEO position was really more of a “when, not if” situation, and really not much of a surprise. Jobs was treated for pancreatic cancer back in 2004 and received a liver transplant in 2009. What’s more, while it is arguably unfair to speculate on his current condition (and Jobs has been fairly private about these details), the information that has been made available in the past would suggest he is most likely not feeling especially well anymore (fatigue and lethargy are common symptoms).
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