Apple names Steve Jobs interim CEO

Article Abstract:

Apple announced that it has appointed Steve Jobs as its interim CEO. Jobs, an Apple co-founder who returned to the company in Jul 1997, has been handling the role on a de facto basis. Apple's reorganized board of directors said the computer manufacturer plans to name a permanent CEO by the end of 1997. Apple previously projected the CEO search to conclude by Oct 1997. The longer-than-expected hunt obligated the board to name Jobs as interim leader, according to industry executives. Gilbert F. Amelio, the most recent Apple chmn and CEO, left the company in Jul 1997. Jobs recently rejected the board's latest offer to become Apple's full-time CEO, according to an Apple insider. Some industry executives believe that Jobs' influence and aggressive moves would make it difficult for a new CEO to assert full leadership. Jobs, CEO of Pixar Animation Studios, has said he wants to serve a transitional role at Apple.

Computers, Management, Officials and employees, Appointments, resignations and dismissals, Jobs, Steven, Company Business Management

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Apple may sell key assets to cut costs; Newton division may go as the PC maker talks to venture capitalists

Article Abstract:

Apple is starting 1997 with nothing but bad news; it's stock is continuing to decrease in value, its revenue is expected to decrease by 20%, the company may very well be forced to sell some of its business units, and more employee cuts are planned. Apple's ability to survive is being questioned by an ever increasing number of individuals, which in turn is effecting the amount of sales the company is making. Apple has been discussing with venture capitalists the possibility of selling its hand-held, Newton Computer division and other parts of Apple's operation, such as the expensive software the company has been developing. The company is planning another round of layoffs in Mar 1997 that will reduced the 13,000-person staff by up to 20%. The layoffs this spring follow the 1,500 employees laid off in 1996.

Computers & Auxiliary Equip, Finance, Company sales and earnings, Company losses, Layoffs, Layoff

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