Offering news and business analysis for the design engineer, Managing News Editor Suzanne Deffree filters the electronics industry's developments and trends to explain how what's happening in the board room today can impact the tech innovation of tomorrow. Follow Suzanne on Twitter, @Deffree. Suzanne also manages EDN's Twitter account, @EDNMagazine.
Jan 5 2009 12:14PM | Permalink |Comments (7) |
Steve Jobs has reluctantly disclosed a "hormone imbalance" that he said has been “robbing” his body of the proteins it needs to be healthy and has caused the public tech industry exec's very noticeable and rapid weight loss.
Jobs said in a vague letter today that "sophisticated blood tests have confirmed this diagnosis" and that he plans to continue as Apple Inc's CEO through his recovery, which he estimates will come sometime in late spring.
Jobs, a pancreatic cancer survivor who has until now made no public statements on his current apparent health issues, noted in the letter the recent "flurry of rumors about my health, with some even publishing stories of me on my deathbed." Such rumors and stories have wreaked havoc on Apple's stock (AAPL) price, encouraging deep declines last year, the most recent of which was on December 30, 2008. AAPL today, however, was up more than 5% as of 1:30pm eastern on Jobs' statement, trading above the $95 mark.
Jobs assures in the open letter that the "remedy for this nutritional problem is relatively simple and straightforward" and that he will stay on as the company's leader. Apple's board also backed him in a separate statement, saying that Jobs deserves the company's and board's "complete and unwavering support during his recuperation."
No one wants to lose such an important and influential person from this industry and the board's statements are very nice, indeed. However, there comes a point when Jobs' health isn't the main issue at question. Instead, it's the overall responsibility of Apple to its shareholders, its employees, consumers, and the companies (including semiconductor suppliers) with which it does business. A mere sneeze from Apple has gotten certain semi industries sick in the past. If rumors of illness for the CEO caused as much turmoil to AAPL as they have in recent months, how much damage could Jobs' departure do to the company and its electronics supply chain?
Jobs may have survived pancreatic cancer and he may very well survive this so-described nutritional problem, but he could walk out of a hospital six months from now, fully recovered, and be hit by a bus. Where would that leave Apple?
This industry -- as well as Apple partners, AAPL holders, and company employees -- need to know who the Ballmer is to the Jobs' Gates. Microsoft began transitioning Gates from the spotlight years ahead of his retirement. Jobs remains the public face of the iPod maker and Apple's is just now starting to take his out of the spotlight, announcing in mid-December that Philip Schiller, Apple’s senior VP of worldwide product marketing, will deliver the opening keynote for this year’s Macworld Conference and Expo this week, marking Apple's last keynote at the show.
Granted, the loss of Jobs, be it to this mystery hormone imbalance, his eventual retirement, or a speeding bus, will be a loss to Apple and consumers. But there are plenty of other very talented people at Apple who can lead the company through the next generation of tech and maintain it as a consumer electronics industry authority. The general public just needs to see more of them and what they do for Apple. I made a few calls to the biggest non-engineer Apple fanboys I know this morning, asking them what they thought of the health news. The overall consensus was that with Jobs Apple's product lines will continue to flourish and innovate, without him "well, there's always the Zune line," one gadget-loving friend of mine said.
Agree or disagree that Apple needs to shed some light on its post-Jobs plan? Share your thoughts on the state of Apple and Jobs below.