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WSJ: Apple board members have informally explored CEO succession options

post #1 of 32
Thread Starter 
Members of Apple's executive board have reportedly discussed succession plans with outside consultants in the event that Steve Jobs can no longer run the company, though Jobs himself has characterized details in a new report from The Wall Street Journal as "hogwash."

Citing "people familiar with the matter," the Journal reported on Tuesday that members of Apple's board discussed CEO succession options with executive recruiters. They are also alleged to have spoke with the head of one high-profile technology company.

"The conversations weren't explicitly aimed at recruiting a new chief executive and were more of an informal exploration of the company's options, said these people," the report said. "The directors don't appear to have been acting on behalf of the full board, some of these people said. Apple has seven directors, including Mr. Jobs."

The authors said they reached out to Jobs in an e-mail on Monday with a series of questions. The chief executive reportedly responded with: "I think it's hogwash."

The alleged discussions on the part of board members are said to have taken place after the company announced earlier this year that Jobs would take another medical leave of absence from the company. Three people reportedly said that "a couple" of Apple's directors held talks about the company's leadership after they were informally approached by recruiters with search firms.

"Apple's directors have made no decision about whether to retain executive recruiters, these people said. Some of the people who talked with Apple directors said they considered the conversations to be more than the routine discussions that they typically have with board members."

A person who anonymously spoke with the newspaper revealed that Apple's independent board members have discussed succession in private sessions without Jobs for the last 12 years. They said investors will only learn of Jobs' successor when he decides to retire or if the board ousts him. They also reportedly acknowledged that any departure of Jobs "is going to be traumatic" for the company.

Chief Operating Officer Tim Cook is labeled as a "leading candidate" for the CEO role should Jobs leave, though it was said that Apple's directors have a list of criteria they would like to have in the company's next chief executive.



Though Jobs has relinquished his day-to-day CEO obligations to Cook, he has still made numerous appearances since his departure in January. In early June, he led the keynote at Apple's annual Worldwide Developers Conference, and that same week he pitched a plan for a new 12,000-employee "spaceship" campus to the Cupertino, Calif., City Council.

Apple has been publicly called out on a number of occasions to disclose its succession plan to investors. Apple has countered that disclosing the secret "comprehensive succession plan" publicly would "undermine efforts to recruit and retain executives."

One survey conducted in February found that just 35 percent of companies -- including Apple -- have drafted a formal CEO succession plan. That's in spite of the fact that 98 percent of executives polled by Korn/Ferry International believe a CEO succession plan is an important part of corporate governance.
post #2 of 32
Are you seriously publishing an article from that scum Rupert murdochs wsj company about some nonsense that is exactly that, a rumor?

Let me find out appleinsider is conservative troll.
post #3 of 32
My first thought is that Apple is leaking this to come out now because they have very positive numbers to report today...
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post #4 of 32
Quote:
Originally Posted by AppleInsider View Post

The authors said they reached out to Jobs in an e-mail on Monday with a series of questions. The chief executive reportedly responded with: "I think it's hogwash."

Does this mean Jobs thinks the board (allegedly) going behind his back is hogwash or that the whole story is hogwash? The latter seems much more likely, but its unclear.
post #5 of 32
Quote:
Originally Posted by Bageljoey View Post

My first thought is that Apple is leaking this to come out now because they have very positive numbers to report today...

Or someone is worried about their options for next month.
post #6 of 32
Quote:
Originally Posted by shadash View Post

Does this mean Jobs thinks the board (allegedly) going behind his back is hogwash or that the whole story is hogwash? The latter seems much more likely, but its unclear.

That's my question. Makes it sound like board members are initiating these explorations behind his back. A strange story.
Please don't be insane.
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Please don't be insane.
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post #7 of 32
Anyone who doesn't think that this is a blatant attempt to manipulate the stock just prior to earnings is naive.
On the other hand, WSJ is probably 'hacking' into Apple's phones... they are a Murdoch rag now.
post #8 of 32
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post #9 of 32
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post #10 of 32
Quote:
Originally Posted by shadash View Post

Does this mean Jobs thinks the board (allegedly) going behind his back is hogwash or that the whole story is hogwash? The latter seems much more likely, but its unclear.

Hogwash it Steve's way of saying no comment, just like you others have no clue to what he is making no comment to
post #11 of 32
A better discussion, who do you think they can find, really does anyone name jump out as a logical choose. Who in the technology industry does people highly respect and could this person get the people to follow his direction. Face I can not think of anyone who has so many success in a row as Steve has, even the failure he may or may not have had are not even noticeable.
post #12 of 32
HERE IT IS BOYS!!!

Apple Delivers Blowout Results as iPad Sales Nearly Triple


HOLY CRAP!

http://www.cnbc.com/id/43811493

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CNN: Obamacare largest tax increase in American history

 

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post #13 of 32
Quote:
Originally Posted by AppleInsider View Post

Members of Apple's executive board have reportedly discussed succession plans with outside consultants ...

Oh come on!

This is obviously just about manipulating the stock. Apple Insider should be ashamed for even printing this muck.

They are looking *outside* the company for a CEO so they can replace the world's most successful CEO of the world's most successful company at the height of their success? Even though they already have a written succession plan in place?

Right.
post #14 of 32
The company said it sold 9.25 million iPads during the quarter,

nearly triple the amount it sold a year earlier.

IPhone sales more than doubled to 20.34 million.

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post #15 of 32
Quote:
Originally Posted by shadash View Post

Does this mean Jobs thinks the board (allegedly) going behind his back is hogwash or that the whole story is hogwash? The latter seems much more likely, but its unclear.

I don't think that Jobs doubts that some folks might be talking about the situation 'behind his back' but I do think he doubts that anyone would admit to it.

And if there was any truth to the claims that someone has talked to a CEO from another company it would have leaked out who by now.

Legally Apple has to have a plan and they do. But just as legally they don't have to tell us every time the CEO farts, can't get it up or has a headache, they don't have to disclose the details of the plan. We'll find out what it is when it is needed. Although we may already have one detail thanks to Tim Cook taking over while Jobs is on leave.

A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

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A non tech's thoughts on Apple stuff 

(She's family so I'm a little biased)

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post #16 of 32
Quote:
Originally Posted by FriedLobster View Post

The company said it sold 9.25 million iPads during the quarter,

nearly triple the amount it sold a year earlier.

IPhone sales more than doubled to 20.34 million.

But... but... they don't do Flash!
post #17 of 32
Quote:
Originally Posted by Maestro64 View Post

A better discussion, who do you think they can find, really does anyone name jump out as a logical choose. Who in the technology industry does people highly respect and could this person get the people to follow his direction. Face I can not think of anyone who has so many success in a row as Steve has, even the failure he may or may not have had are not even noticeable.

If they go outside of Apple for the next CEO, they're totally crazy stupid.
post #18 of 32
Quote:
Originally Posted by MacRulez View Post

Number of accusations of Apple stock manipulation in AI forums this year: 3,478
Number of actual cases of Apple stock manipulation investigated by the FTC this year: 0

QFT!

BTW I'm sure my neighbor is burying dead bodies in his back yard even though I've never actually seen any, and neither has anyone else.
Please don't be insane.
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Please don't be insane.
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post #19 of 32
Quote:
Originally Posted by MacRulez View Post

Number of accusations of Apple stock manipulation in AI forums this year: 3,478
Number of actual cases of Apple stock manipulation investigated by the FTC this year: 0

Well, yeah. Why would the FTC investigate stock manipulation?

On the other hand the SEC...

http://tinyurl.com/3wx3ebq

I would assume the investigation started late last year is in full swing this year.

Here's the AI article from last year:

http://www.appleinsider.com/articles...el_checks.html
post #20 of 32
Quote:
Originally Posted by charlituna View Post

Legally Apple has to have a plan and they do. But just as legally they don't have to tell us every time the CEO farts...

There's an app for that...
post #21 of 32
Quote:
Originally Posted by MacRulez View Post

Number of accusations of Apple stock manipulation in AI forums this year: 3,478
Number of actual cases of Apple stock manipulation investigated by the FTC this year: 0

The USDA hasn't investigated either. I am outraged.
post #22 of 32
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post #23 of 32
hmmm...Bill Gates ain't doin' much...maybe they could lure him out of retirement?!?!??! He does have some limited tech experience, and could probably learn to use an iPhone in just a few months...
post #24 of 32
Quote:
Originally Posted by MacRulez View Post

Have a more productive day.

If the rest of his day is as productive as pointing out the several factual inaccuracies in your post, then I'm sure he will.

Don't take the easy way out by emphasizing that you truly meant "this year" in your original post. If you did mean it, then you knew of the prior investigation and the merit of your argument is called into question.
post #25 of 32
Quote:
Originally Posted by boredumb View Post

hmmm...Bill Gates ain't doin' much...maybe they could lure him out of retirement?!?!??! He does have some limited tech experience, and could probably learn to use an iPhone in just a few months...

Bill Gates isn't doing much? I guess not, if you don't consider eradicating polio, TB and malaria to be "much".
post #26 of 32
Quote:
Originally Posted by GQB View Post

Anyone who doesn't think that this is a blatant attempt to manipulate the stock just prior to earnings is naive.
On the other hand, WSJ is probably 'hacking' into Apple's phones... they are a Murdoch rag now.

Call me naive then.

IMO, Apple does not need to manipulate the stock. Furthermore, Apple tends to have an arrogant attitude when it comes to things like market study and market cap. Jobs himself has said more than once that the stock would take care of itself if they took care of designing the best products. Has it occurred to anyone that, despite being the founder and born-again CEO of the most valuable tech company on earth, Jobs is nowhere near as rich as Larry Ellison, Bill Gates, Steve Ballmer or Paul Allen? That says a thing or two about whether he really believes the stock would take care of itself or would rather stoop to manipulating the stock.
post #27 of 32
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post #28 of 32
Bill Gates isn't doing much? I guess not, if you don't consider eradicating polio, TB and malaria to be "much".

wasn't talking about his hobbies...say "hi" next time you're hangin' with him.
post #29 of 32
Quote:
Originally Posted by MacRulez View Post

I meant what I wrote, and he replied to something no one wrote. Simple as that.

I'm not the brilliant poster that confused the FTC with the SEC...so yes, I covered what you wrote.

And even if we let you off the hook for that one your statement is still wrong given that there was/is an active Apple stock manipulation investigation ongoing THIS year. That it might have started last year is immaterial to prove your bogus statement wrong.

You implied that Apple stock manipulation doesn't really happen and wrote an incredibly stupid statement to do so. Even better that you actually meant to do so. That makes it a triple fail.
post #30 of 32
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post #31 of 32
Quote:
Originally Posted by stelligent View Post

Call me naive then.

IMO, Apple does not need to manipulate the stock. Furthermore, Apple tends to have an arrogant attitude when it comes to things like market study and market cap. Jobs himself has said more than once that the stock would take care of itself if they took care of designing the best products. Has it occurred to anyone that, despite being the founder and born-again CEO of the most valuable tech company on earth, Jobs is nowhere near as rich as Larry Ellison, Bill Gates, Steve Ballmer or Paul Allen? That says a thing or two about whether he really believes the stock would take care of itself or would rather stoop to manipulating the stock.

I don't believe the insinuation is that Apple is attempting to manipulate stock prices but rather that institutional traders are attempting to manipulate stock prices and that anonymously sourced stories that break hours before earnings calls are a part of such manipulation-- as are credulous or complicit financial reporting.

After the horrific revelations of the past few years regarding the incestuous and openly rigged procedures undergirding "the markets" I wouldn't be terribly surprised to learn that all financial reporting is vetted by a cabal of plutocrats which has crafted a multi-decade narrative designed to abet aggressive concentration of wealth into the hands of the few, but that's just me.
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post #32 of 32
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