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Date: Mon, 23 Mar 1998 12:35:23 -0500
To: Mac News Wire (MacNews@insanely-great.com)
From: Michael D Flaminio (flaminio@pilot.msu.edu)
Subject: [NEWS] Jobs to be asked for CEO decision this week
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(http://www.insanely-great.com/news/98/3/news23.html#appleceo)
In this week’s Apple board meeting, Steve Jobs is expected to be
confronted
with a CEO decision for Apple.
Apple’s board may soon force Jobs to decide his role with Apple computer.
Will he stay or will he go? Last week, the anticipated front runner for
Apple’s new CEO, Jim Cannavino joined on with Computer Concepts’ Internet
Strategy Committee. Cannavino, who has held executive positions with Perot
Systems and IBM, will provide strategy to help bringing Computer Concepts
new Internet technology to market.
Cannavino said in a press statement, “I am extremely impressed with
Computer Concepts’ management team headed up by Dan DelGiorno, president
and CEO, who has taken the company from a startup to approximately $30
million in sales in 1997, with over a 100 percent sales growth rate
anticipated for 1998. This was no small accomplishment considering the
majority of startups fail due to lack of funding and poor management.”
So where does this leave Apple? While this is not a full time job with CC,
it’s not something one would usually do before joining a cause like Apple.
With that said however, we’re not completely ruling Cannavino out. Apple’s
board is said to be asking Jobs what he intends to do. Stay on to
continue,
or step aside for someone else. Business Week reports that the Apple’s
board may have someone lined up to CEO. Reportedly, the individual is
just
waiting for Jobs’ decision. Business Week said that the CEO candidate, as
with others candiates, requested that if they were to lead Apple, they
would be CEO, and eventually chairman In other words, if they’re going to
steer the ship, they want complete control. Jobs’ told Business Week that
their sources were incorrect regarding this information.
So what about Jobs? According to a Business Week article, Apple’s board is
prepared to offer Jobs a very generous CEO package that is reportedly
worth
as much as 8% of Apple. If you remember in last October, Jobs apparently
considered taking the CEO post and took a weekend to think it over. He
returned to tell the board he was not interested. Perhaps that has
changed.
Reportedly, several weeks ago Jobs told directors in a conference call to
make a second offer. The offer was about $270 million with of Apple stock
at today’s prices. Reportedly Jobs is still not sure.
Business Week notes that Jobs’ stake in Pixar recently jumped to about $1
billion.
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Computer Concepts PR
(http://www.computerconcepts.com/press/cc03191998.shtml)
Business Week
(http://www.businessweek.com/premium/13/b3571065.htm)
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