Will Steve Jobs Remain Apple's CEO?
According to the Wall Street Journal, Apple CEO Steve Jobs had a liver transplant in Tennessee about two months ago and his recovery is going well. A company spokeswoman said, "Steve continues to look forward to returning at the end of June," but he will probably work part-time for health reasons, at least initially.
Fine. Now the big question is what will Jobs's role be when he returns to Apple? There are a number of factors to consider.
His Health
As it happens, someone close to me had liver cancer and got a transplant a few months ago, so I'm more knowledgeable on the subject than I'd like to be. The good news is that the survival rate for liver transplant patients is relatively high these days - the five-year survival rate is over 70 percent, according to the United Network for Organ Sharing.
But the anti-rejection drug treatment messes with your immune system, so patients are typically required to take antibiotic, antiviral, and antifungal drugs as well, which present their own set of issues. And then there's the underlying cause of the transplant, which is unknown to us but may very well be a metastasis of Jobs's 1994 pancreatic cancer.
Not to be insensitive, but in all likelihood, Jobs's health issues are here to stay.
The Business
There's a general consensus that Apple has a pretty deep bench when it comes to senior leadership. Indeed, the company has fared well while Jobs was on medical leave. On the other hand, companies don't fall apart overnight when a key leader departs, it takes time; and Jobs was still involved in key decisions during that time.
As I said in What Happens When Steve Jobs Leaves Apple, I don't expect Apple to continue on its current trajectory, turning out one blockbuster product after another, without Jobs. He's a unique individual who, in a number of ways that are difficult to define, makes Apple what it is. Nevertheless, COO Tim Cook is looking more and more like the heir apparent every day. Employees and Wall Street seem to be comfortable with him running the show. There's a lot to be said for that.
And Jobs's health is what it is.
As a result, I would expect Jobs to continue working at Apple for the foreseeable future, but not as CEO. I just don't think his health will allow it, and since things have gone so well in his absence, it would be wise for the board to turn the CEO reigns over to Cook, probably by year end.
In any case, as long as Jobs is still there, in whatever capacity, I think Apple will do fine.