News of Steve Job's resignation from the CEO position of Apple has sent shockwaves throughout the tech world, the stock market, and the legions of Apple fans -- but most importantly, the company itself.
Apple Corp is facing a reorganization of its executive structure, with Jobs assuming the position of chairman of the board -- a position that never existed previously at the company. As a Reuters article on Friday pointed out, Apple was one of the few U.S. companies that lacked a chairman, raising concerns that there was no one to balance the power of the CEO.
Apple's board has been described as less than a major force in the company's decisions. The article states that it met only four times in the last year, half as often as most comparable corporations, and that many board members were regularly uninformed about Jobs' decisions and his health. As many are themselves CEOs of other active companies, their ability to commit more time to Apple may be limited. However, due to the general secrecy around Apple, it is unclear how much is known, how much will change, and whether any changes will even be known for some time to come.
As Steve Jobs' successor, Tim Cook is not merely taking a greater leadership position at Apple, he is also filling the shoes of what many consider to be one of the business world's most insightful and influential visionaries. Some point towards Microsoft's declining relevance after Steve Ballmer took over from the equally iconic Bill Gates Cook's presence may take some time to make its own mark on a company whose image has been intertwined with Jobs' -- not simply for its current decade-plus of iconic success, but also during the company's formative years in the 1970s and 80s.
The short term future of Apple seems in little doubt. Stocks have largely remained stable, and analysts agree that, if anything, Jobs' decision to step down has removed a nagging uncertainty that investors may have been feeling about the ex-CEO's health and involvement. Sales are not likely to drop, with highly anticipated products such as the new iPhone (right around the corner, supposedly) and iPad (holiday season, or early next year, maybe?), not to mention the kind of customer loyalty that most companies can only dream of.
James Lee Phillips is a Senior Writer & Research Analyst for IBG.com. With offices in Dallas, Las Vegas, and New York, & London, IBG is quickly becoming the leading expert in Internet Marketing, Local Search, SEO, Website Development and Reputation Management. More information can be found at www.ibg.com. PageRage Yontoo provides free Facebook layouts and Facebook backgrounds for your Facebook profile. PageRage caters to numerous styles and design preferences.