Apple: Steve Jobs remains CEO. His health? None of your business.
A top Apple executive addressed Wall Street's concerns about the gaunt appearance of CEO Steve Jobs for the first time, saying today that his health was a "private matter."
When Jobs appeared at a conference in June to show off the iPhone 3G, it caused a mini-sensation. To many, Jobs looked thin -- too thin -- setting off speculation about his health. He had announced in 2004 that he had fought off pancreatic cancer.
A company spokeswoman explained later that Jobs, 53, had been suffering from "a common bug" and had been treated by antibiotics. End of story, right?
Not exactly. Ahead of Apple's scheduled earnings report, the New York Post revived those concerns this morning with a story quoting hedge fund managers saying they had sold Apple stock because of continuing concerns about Jobs' health. Apple has never revealed its succession plan, which aggravated the traders' worries. And a Fortune magazine story in March said Jobs and Apple's board hid the diagnosis for months.
Today, on Apple's earnings call with industry analysts, someone popped the question: Is Steve Jobs still sick?
Jobs rarely sits in on earnings calls. Peter Oppenheimer, Apple's chief financial officer, answered: "Steve loves Apple. He serves as CEO at the pleasure of the board and he has no plans to leave Apple. Steve's health is a private matter."
It's unclear whether investors were spooked by the answer or merely unsatisfied with Apple's forecast for the current quarter. Apple reported profit and revenue that set a new record for its fiscal third quarter, but its shares fell 6% before the analyst call began. By the time the call was over, Apple's shares were trading 11% lower than at the close of regular trading.
-- Michelle Quinn
Photo: Steve Jobs, Apple's CEO, in June 2008. Robert Durell / Los Angeles Times
Duh! ANYONE EVER CONSIDER THE GENIUS JOBSTER MIGHT BE USING A COMMON SENSE TECHNIQUE - WHAT ALL ANIMALS DO WHEN THEY HAVE A BUG: FAST. EVER HEAR OF STARVING A COLD? DUH! LIKE CHRIST FASTING 40 DAYS. LIKE John THE BAPTIST, Elijah, AND a lot of WISE MEN DID and still do. CLEAN THE OLD SYSTEM OUT, GIVE IT A REST. IT IS A SPIRITUAL PRACTICE....WHY IS THE PUBLIC SO MALEVOLENT? WHY DOES EVERYONE THINK SO NEGATIVELY, TAKING "THE GLASS IS HALF-EMPTY" APPROACH TO LIFE. LONG LIVE STEVE JOBS! May all the Gods of all the spheres bless him and keep him FIT AS A STADIVARIUS.
Posted by: JOE FRIDAY | July 21, 2008 at 04:30 PM
Ever met the guy? The fact that he's lived this long with all his anger issues is phenomenal.
Posted by: Anonymous | July 21, 2008 at 04:55 PM
Why do "DUH" people insist on using ALL CAPS?
It makes them look so stupid!
Posted by: George Spink | July 21, 2008 at 05:08 PM
Joe Friday stated, "EVER HEAR OF STARVING A COLD?"
---
Sorry, Officer Friday, the correct quote is, "Feed a cold and starve a fever."
Bill
Posted by: Bill Gannon | July 21, 2008 at 05:38 PM
Maybe he just LOOKS thin compared to the obesification of most Americans . . .
Posted by: writernan | July 21, 2008 at 05:44 PM
When I saw his appearance during the iPhone event, I thought whoa! Well he does not look. I hope all is well, but the answer, it is a private matter, does not help concerns.
Posted by: cashaw | July 21, 2008 at 05:55 PM
Here's a question... how are you? I know that Apple is a publicly traded company, and concerns over someone as integral to a company success as Jobs has been to Apple are understandable, but his health IS a private matter. Maybe the investor confidence ratio is dipping due to non-faith in succession plans, but that could be said for any company theoretically. Would Pixar fail if John Lassiter were gone? Possibly, but he seems to have attracted great talent around him (so much so that even the passing of one of their key storytellers, Joe Ranft, has not slowed them down).
From a business perspective, you either believe the business is being run well, or not. Health of one individual should not be a factor. I would believe that Jobs has attracted many talented people himself. If he is, however the only reason Apple is succeeding, let us enjoy their products while the quality is high, and adjust if/when that level of quality dips.
BTW, the iPhone software release probably has more to do with the dip than the investor call anyway. But like everything, they'll fix it and move on, as great companies do.
Posted by: Apple the Fan | July 21, 2008 at 06:39 PM
He looks like he has cancer. Plain and simple. Did you see how Tony Snow looked on the Daily Show 2 months before he died?
Posted by: Anonymous | July 21, 2008 at 06:44 PM
"Looks like he has cancer?" Give me a break. He needs our prayers and empathy, not suspicion. Apple will be fine. Have faith. I just hope Steve is.
Posted by: JB | July 21, 2008 at 07:31 PM
Mr. Jobs health is his private matter.
His inventions and contributions are our business and pleasure.
I wish...him well.
Adrienne
http://adriennezurub.typepad.com
Posted by: Adrienne | July 21, 2008 at 07:35 PM
"Feed a cold and starve a fever" - Bill is correct about the quote but more important to the conversation is you should feed both (if you can keep it down) and drink plenty of liquids. I know I stayed at a Holiday Inn Select last night.
Posted by: Comas | July 21, 2008 at 08:20 PM
I disagree. While I do understand the importance of privacy, even for very public people, Steve Jobs is the visionary leader of a publiclyl traded company. If the possibility exists that his health may interfere with that leadership it is a public matter, particularly for his shareholders. i dont mean to sound cold hearted - and I hope he is ok - but if he is seriously ill his shareholders have a right to know.
Posted by: Sarah M | July 21, 2008 at 08:36 PM
How much is Jobs responsible for Apple's success? He looks awful. If his pancreatic cancer is back, he will die. What then for Apple's earnings? Who is in the on deck circle?
Posted by: ANONYMOUS | July 21, 2008 at 08:40 PM
i LOVE mY MAC
Posted by: Bill Hirr | July 21, 2008 at 10:27 PM
looks like cancer for sure
Posted by: ace | July 22, 2008 at 12:41 AM
It was not a private matter when they said he has a "bug". Now, suddenly, it is private. So clearly something is up. That is hardly encouraging.
Posted by: Peter Bray | July 22, 2008 at 01:35 AM
Any pictures of Mr Jobs post WWDC? Is he attending the Cupertino campus?
Posted by: Not FSJ | July 22, 2008 at 05:37 AM
Comparing Steve Jobs possibly 'starving his cold" to "Christ fasting for 40 days" is the perfect example of the Mac 'cult' mentality - as Russel Belk says, "The Mac and its fans constitute the equivalent of a religion. This religion is based on an origin myth for Apple Computer, heroic and savior legends surrounding its co-founder and current CEO Steve Jobs, the devout faith of its follower congregation, their belief in the righteousness of the Macintosh, the existence of one or more Satanic opponents, Mac believers proselytizing and converting nonbelievers, and the hope among cult members that salvation can be achieved by transcending corporate capitalism."
Yep....read that last line again.esp. the believe that Apple should 'transcend corporate capitalism' part.
Apple is a BUSINESS. Plain and simple, people. It can't 'transcend' what it is.
Even the most devoted cult members can't shift how business thinking works -- wall Street and investors want to know Apple's plan 'after Jobs' and there isn't any. That's a big problem.
Posted by: IMarie Battisti | July 22, 2008 at 07:13 AM
For a public company to claim that the health of a CEO is a private matter is plain disingenuous, especially when there's no succession plan. Otherwise, you are going to see selling off by nervous investors.
This is just part of the whole culture of secrecy at Apple. It makes sense when it comes to new products, but not when it comes to who's leading and who will be leading in the future.
Posted by: debegray | July 22, 2008 at 09:57 AM