Apple just reported outstanding earnings but there’s still the news that Steve Jobs will be taking another medical leave, with COO Timothy Cook taking charge in his absence. Cook was in charge when Jobs took a medical leave in 2009. (He had a liver transplant that year.) Jobs has not specified when he’ll be back this time.
The question of succession is now on everyone’s minds. The company is notorious for getting information about Jobs’ health out after the fact, so this time it is being a little more forthcoming.
Still, in a short video posted after the jump, Wall Street Journal news editor Joanne Lublin says that, “From the board’s perspective, as long as they tell shareholders they have a succession plan, they don’t have to tell you what it is.” SEC rules are on their side.
However, as the New York Times writes, there may not be much to worry about. Besides Cook, there are a number of other Apple execs who are ready and able to step in as necessary.
Among those execs are the marketing head Philip Schiller. “During Mr. Jobs’s last leave, it was Mr. Schiller who took over as Apple’s chief showman, taking the stage at events typically headlined by Mr. Jobs. Among other products, he unveiled the iPhone 3GS as well as an updated line of MacBook Pro laptops,” the Times writes.
Analysts agree that confidence in Apple execs has grown, indicating the company won’t see the steep decline in stock price that once seemed likely, reports Reuters. But should a company be more public with its succession plans? Share your thoughts in the comments or on Twitter @prnewser. Separately, we wish Steve Jobs the best.
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