“Apple investors have already been through a period without CEO Steve Jobs at the helm and that didn’t turn out too well,” Paul R. La Monica reports for CNN/Money. “So the news of Jobs’ cancer surgery over the weekend did not sit well with Wall Street. Shares of Apple Computer dipped more than 2 percent Monday morning.”
“‘Steve Jobs has been the hallmark of Apple’s turnaround,’ said Megan Graham-Hackett, an equity analyst with Standard & Poor’s. ‘It would be a blow to the company if he were not able to be as participatory as he has been in the past,'” La Monica reports. “Of course, it seems premature to speculate about a successor to Jobs. Or is it? ‘We have a talented and experienced senior management team,’ said an Apple spokeswoman. ‘Our board of directors has a formal succession plan in place but the details of that are not public.’ But Rod Bare, an equity analyst with Morningstar, said that Apple investors should always be prepared for life without Jobs… ‘Apple does rely on a cult of personality and the stock trades on some of that,’ said Bare.”
Full article here.
Related MacDailyNews article:
What happens when Steve Jobs dies? – August 20, 2003