Steve Jobs says Succession Rumors are Hogwash; Is his Health Great?

 
on July 21 2011 8:54 PM

Trashing talk that some members of the Apple board have conducted discussions on CEO succession plans with executive head hunters, Apple CEO Steve Jobs said the rumors are mere 'hogwash'.

I think it's hogwash, Steve Jobs said in an email, the Wall Street Journal reported, adding that, according to its sources the conversations weren't explicitly aimed at recruiting a new CEO. It was also not clear if Jobs was aware of the talks concucted by some members of the 7-memeber board.

Steve Jobs' health concerns have triggered Apple succession rumors several times in the past. The latest talk about succession plans started afer Jobs entered into his second medical leave early this year.

Jobs' health has been a matter of grave concern for Apple stakeholders. Apple has largely depended on its enigmatic leader for the current run of successes. Jobs' health has caused concerns since he was diagnosed with pancreatic cancer in October 2003.

With reports emerging that some of the board members have been ruminating over the CEO succession, the focus now is entirely on Jobs' health.

Various reports indicate that his health is not that great at the moment. According to iconic reporter Philip Elmer-Dewitt, who covered Steve Jobs and Apple for close to three decades, Jobs is pretty much grounded. He says that for two straight quarters now, Steve Jobs' private jet reimburement charges were nil. This means Jobs has not been travelling around meeting clients and supply chain partners.

Elmer-Dewitt also points out in his Apple 2.0 article that Morgan Stanley analyst Katy Huberty had recommended to her clients in 2008 that they shold watch how much time Jobs was spending in the air before they bough Apple (AAPL) stocks.

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