“In the world of technology, the words Apple and innovation have become practically synonymous. In one area, however, the maker of personal computers and consumer-electronic devices has shown an inability to think differently,” Rex Crum reports for The Columbus Dispatch.
“And that area is not an insignificant one: It’s the composition of its top leadership,” Crum reports.
“Chief Executive Steve Jobs [age: 52], who co-founded Apple in Cupertino, Calif., more than three decades ago, has grown so intertwined with the company that, to many, Jobs is Apple and vice versa. Given the company’s turbulence during his decade-long absence, Apple faces an extraordinarily difficult task in succession planning,” Crum reports.
“So far, the company has given few, if any, signs that it has even begun,” Crum reports. “An Apple spokesman said the possibility that Jobs will leave the company in the foreseeable future is remote.”
“Apple investors have benefited from Jobs’ second coming. He led the company in resurrecting the fortunes of its line of Macintosh computers as well as in the launch of the iPod, which has garnered a majority share of the market for digital music players,” Crum reports. “On Oct. 23, 2001, the day Apple unveiled the iPod, Apple’s stock closed at a split-adjusted price of $8.41. Shares closed last year around the $85 mark — up 900 percent. The stock has surged close to 50 percent since then, in the aftermath of the introduction of plans for its iPhone, which went on sale June 29. Shares closed [yesterday at $138.10.]”
Full article here.