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Topic: Steve Jobs' 2nd medical leave of absence at Apple< Next Oldest | Next Newest >
RichKoster Offline
Rich Koster




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Posted: Jan. 26, 2006, 11:04 am Quote

Updated January 16, 2009 at 7 pm Central Time:
More than just a medical leave of absence, now Steve Jobs might need a liver transplant. Scroll to the bottom of this page for more about this latest news.



Here's what Steve Jobs had to say when asked about Disney buying Pixar. Jim Goldman of MSNBC remarked to Jobs that this is a much bigger event than "just two studios getting together" and wondered what Job's vision and Bob Iger's vision was with this buyout -- along with plans Jobs might have in mind for his other company, Apple Computer.

Jobs replied:

'I think you’ve got the story a little wrong. What this really is about is Pixar buying into Bob Iger’s vision of where Disney’s going. And you know I couldn’t have imagined this happening a year or two years ago. But when I had a chance to know Bob and hear about where he wants to take Disney, and also see that he understood the importance of animation, that’s when our minds opened to allow this possibility.

"And so we’re really buying into Bob’s vision, not the other way around."

Steve Jobs


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Posted: Jan. 26, 2006, 11:46 am Quote

Wow...the Steve Jobs of old wouldn't have said that.  He really has grown past the super salesmen ego into a savy business leader who has a handle on today's technology and how it can be used to entertain people.

Any word on what projects beyond "Cars" for Disney/Pixar Animation?


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RichKoster Offline
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Posted: May 04, 2006, 10:24 am Quote

Chuck Oberleitner speculates what Steve Jobs may or may not be doing with Disney in this article on o-meon... Steve Jobs has a history of suddenly reversing himself even after making statements to the public about business matters, so perhaps he'll have a large role to play at Disney even though he denies it at the moment. Here are highlights of Chuck's article:



The iSteve Cometh

By C. W. Oberleitner

May 3, 2006

Any day now, the Walt Disney Company will close on its deal to acquire partner Pixar Animation Studios. Since the deal was first announced last January, speculation has run high as to what role Pixar CEO Steve Jobs will play at the new Disney-Pixar Mouse House.

It’s Official…For Now

Last Thursday, Apple Computer, Inc. held its annual shareholders’ meeting. During the meeting, Steve Jobs, who in addition to being CEO of Pixar Animation Studios is also the chief executive of Apple, was asked by a shareholder if he wanted to be the next Michael Eisner at the Walt Disney Company.

According to an Associated Press account of the meeting, Jobs responded saying he had no interest in becoming a Disney Company executive. In fact, Jobs told shareholders he plans to spend more time at Apple after he relinquishes his chief executive job at Pixar when the studio's merger with Disney closes in two weeks.


Jobs, describing the acquisition and his part in it, went on to say, “It's not because I want to be a senior manager at Disney. I don't want to do that.” He added that he thought current Disney CEO Bob Iger “is the best person to run Disney.”

For his part, Iger, during Disney’s annual meeting held last March in Anaheim, confirmed what analysts, Disney fans, and Mac Faithful alike have been saying since the Pixar acquisition was first announced: Steve Jobs will join the Disney board “later this year.”

After having gone on record in such an unambiguous way, you’d think that Jobs’ statements at Apple’s annual meeting would lay to rest once and for all any speculation about his taking on a larger role with the Mouse. But if you thought that, you’d be wrong.

Wrong because after years of leading Apple, first up (Macintosh), then down (previewing the window-based Mac OS to Microsoft), then way up again (iPod), Steve Jobs has developed an amazing propensity for publicly staking out and defending positions all the way up to the minute he reverses himself.
[...]
In 1997, Jobs offered an eerily familiar sounding response to the question of whether or not he planned on taking control of Apple, following that company’s acquisition of his NeXT Software company. Jobs told a BusinessWeek reporter, “People keep trying to suck me in. They want me to be some kind of Superman. But I have no desire to run Apple Computer. I deny it at every turn, but nobody believes me.”

Later that same year, Jobs “reluctantly” agreed to accept on a “temporary basis” the position of interim CEO...
[...]
...Is it any wonder that business writers describing Jobs’ denial of interest in a management role at Disney sound more like Eric Idle performing his famous Monty Python “Wink, wink. Nudge, nudge. Know what I mean?” sketch than serious financial analysts?

The Past as Prologue

Within hours of the Disney-Pixar announcement, reporters and analysts were falling all over themselves attempting to draw parallels between that deal and Apple’s 1996 purchase of Jobs NeXT Software.

In 1985, Jobs resigned from Apple after being stripped of his executive duties by Apple’s board of directors. John Sculley, who Jobs had lured from PepsiCo to give Apple more street cred with Wall Street, was made CEO.

Jobs launched NeXT...
[...]
NeXTSTEP became so well known in IT circles that it caught the attention of Apple’s then CEO Gil Amelio.

Amelio was so impressed by the NeXT OS that he scrapped Apple’s long overdue and oft failed attempts at modernizing the Mac’s OS. In 1996, he persuaded Apple’s board to buy NeXT with the understanding that NeXTSTEP would become the Mac’s new modern operating system. As part of the deal, Jobs gave up all control over NeXT and was to assume the role of “consultant” at Apple.

Once back at the company he co-founded with boyhood friend Steve Wozniak, it didn’t take Jobs long to see that, despite having the foresight to end Apple’s futile struggle to build a new Mac OS by buying a ready-made solution, Amelio had been unable to do little to reign in the chaos that for years had been loosing the Cupertino computer maker market share and driving it closer and closer to the brink of oblivion.
[...]
For the second time in little more than a decade, Jobs found himself at the center of an Apple boardroom coup. This time it was Amelio who found himself out on the street, as Jobs returned to active management as Apple interim or “iCEO,” a title he held until formally becoming Apple’s chief executive in 2000.

Analysts have sited that cautionary tale dozens of times since January when Iger appeared with Jobs before reporters to announce the Mouse’s agreement to acquire the Emeryville CG animation studio, lock, stock, and John Lasseter. Some have even gone so far as to suggest that Apple, with an iPod powered market capitalization of nearly $61 billion—$8.7 billion in cash, would buy Disney, whose market cap, diluted by its acquisition of Pixar, is somewhere in the neighborhood of $54 billion.

Push Me, Pull You

From a business stand point, the Walt Disney Company has always been rather schizophrenic. As the working relationship between brothers and company founders Walt and Roy Disney evolved, it became clear that their studio was its most efficient and successful when Walt focused on creativity and Roy on finances and business affairs. From the Great Depression through WW II, and up to Walt’s death in 1966, this working arrangement served the company well.

The pattern of growth and success through joint leadership at Walt Disney Productions emerged again in 1984. Following a boardroom coup, popular entertainment industry executive Frank Wells and creative studio head Michael Eisner were brought in to turn around the lackluster performance of Walt Disney Productions.

For ten years, these two men, along with Jeffery Katzenberg who Eisner brought along from Paramount Studios to run the Disney Studio, oversaw tremendous growth, box office, and artistic success at what became today’s Walt Disney Company.

As if to prove a point, things began to go wrong for the Disney Company following Wells’ tragic death in a helicopter crash in 1994. The successful formula of joint leadership was broken when Eisner assumed both creative and management control of the company taking the titles of President, Chief Executive, and Chairman of the Board.

The Disney Company is still overseen by only one business executive, Eisner’s successor Bob Iger.
Unlike Eisner, Iger is prohibited by Disney’s corporate bylaws from becoming board chairman; he does, however, still hold the title of President.

So despite Jobs’ protestations, does Iger’s decision to buy Pixar mean that he understands the value of having a joint business/creative management team at the top of the Mouse House?

Answer Hazy, Try Again Later

Many analysts believe that later this year Iger will appoint either Dick Cook (Chairman The Walt Disney Studios) or Ann Sweeney (Co-Chair Disney Media Networks and President, Disney-ABC Television Group) as the next President of the Walt Disney Company. A few have gone so far as to predict that Iger will tap current Disney CFO Tom Staggs for the job.

Choosing any one of these three highly qualified Disney executives to be the new president of the company would go a long way toward dispelling any notion that Steve Jobs might jump ship at Apple and move down to Burbank. But, with the exception of Cook, it would once again tip Mouse House management toward the business side of things and leave creativity at the company without a strong voice at the top.

That is, if it weren’t for one thing.

There isn’t a member of the Mac Faithful anywhere who honestly believes Jobs wants to or ever would consider leaving Apple again. At the same time, most of these same folks see him as the heir apparent to Walt Disney’s legacy of vision and innovation. Additionally, more than a few Wall Street types have privately been hoping the father of the Mac and the iPod will find a way to continue to guide Apple while at the same time enfolding Disney in the Steve Jobs’ Reality Distortion Field. The solution to this conundrum may lay with the Disney board of directors.

Former Senator George J. Mitchell, chairman of the Disney board, has long expressed his desire to leave that post. Mitchell, 72, has also reached the mandatory retirement age for Disney directors. The Disney board tried and failed last year to name a new chairman as Mitchell’s successor. As a result, he was asked by Iger and the board to stay on for another year.

Shortly after the board persuaded Mitchell to stay on, Iger, who had been actively working to renew Disney’s working relationship with Pixar, learned of Jobs’ willingness to consider an outright sale of the CG animation studio. Shortly after Iger and Jobs announced the deal, rumors began to circulate that among the conditions of sale was a provision that Jobs be made chairman of the Disney board...
[...]
Now, following his pronouncements at Apple’s annual meeting, Jobs watchers have been quick to point out that the Barnum of Tech Talk was, as always, very careful in choosing his words.

“He (Jobs) only said he had no interest in becoming an executive at Disney,”
a long time IT consultant specializing in Apple products said. “Later on he said he didn’t want to be a ‘senior manager’ for them either. He never mentioned his role on the board or said anything about being chairman.”

The consultant went on to say that as Disney’s single largest shareholder Jobs would “pretty much be able to do whatever he wants to at Disney.”

Jobs has already demonstrated that he can simultaneously keep an eye on two multibillion dollar corporations. In theory, becoming chairman of the board at Disney while still running Apple shouldn’t require the same amount of effort as overseeing both Apple and Pixar.

Such a scenario could also be seen as restoring the dual visionary and fiduciary leadership paradigm that has served the Disney Company so well throughout its history.

Right now, Steve Jobs is the only person who knows what Steve Jobs has planned for his future. For the time being, he’s said that he has no desire to assume a management or executive role at the Walt Disney Company.

Jobs will probably go right on saying that—right up to the moment he decides to do something else!



Read the complete article here.
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RichKoster Offline
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Posted: Jan. 15, 2009, 1:04 pm Quote

Besides Steve Jobs' Apple and Pixar connections, he is the largest Disney shareholder and sits on Disney's Board of Directors.

Due to health reasons, this week it was announced that he is taking a medical leave of absence . . .



Apple CEO Steve Jobs on Wednesday sent the following email to all Apple employees:

Team,

I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.

I have asked Tim Cook to be responsible for Apple's day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.

I look forward to seeing all of you this summer.

Steve




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Posted: Jan. 16, 2009, 7:58 pm Quote

Update, he might need a liver transplant as a result of complications following his pancreatic cancer, read on, from Bloomberg News which broke the story Friday afternoon, January 16, 2009:

Quoting:

http://www.bloomberg.com/apps....er=home

Apple’s Jobs Said to Be Considering Liver Transplant (Update1)


By Connie Guglielmo, John Lauerman and Dina Bass

Jan. 16 (Bloomberg) -- Apple Inc. Chief Executive Officer Steve Jobs is considering a liver transplant as a result of complications after treatment for pancreatic cancer in 2004, according to people who are monitoring his illness.

Patients with Jobs’s condition can survive for 20 years or more from the time of their original cancer diagnosis, and the surgery often gives good results, said Steven Brower, professor and chairman of surgery at Mercer University School of Medicine in Savannah, Georgia. Brower hasn’t treated Jobs and doesn’t know details of his condition.

Jobs, who appeared increasingly thin and frail throughout 2008, hasn’t provided details about his condition. In a statement released Jan. 5, Jobs said he was suffering from a “hormone imbalance” and that the remedy for his weight loss was “relatively simple.” On Jan. 14, he announced that he was taking a five-month medical leave because his health issues were “more complex” than he originally thought.

In a telephone interview today, Jobs said he won’t comment further on his health.

“Why don’t you guys leave me alone -- why is this important?” Jobs said.

Apple spokesman Steve Dowling declined to comment. The company’s board members -- including Intuit Inc. Chairman Bill Campbell, former U.S. Vice President Al Gore and Google Inc. CEO Eric Schmidt -- either couldn’t be reached or declined to comment.

Private Matter

Apple didn’t comment in detail on Jobs’s health last year, saying it was a private matter. In June, after his appearance at an Apple developers’ conference renewed concern among investors that his cancer had returned, the company said only that Jobs, 53, was suffering from a “common bug.”

Apple, based in Cupertino, California, fell $1.05 to $82.33 at 4 p.m. New York time today in Nasdaq Stock Market trading. The shares lost 57 percent last year.

Jobs, who co-founded Apple in 1976 and returned in 1997, transformed the company by updating the Mac with sleeker and thinner models, including the iMac in 1998 and the ultra-thin MacBook Air notebook last year. His focus on stylish and simple- to-use gadgets won over millions of buyers, turning the iPod media player and iPhone handset into best sellers.

Surgery

Jobs said in 2004 that he underwent surgery to remove a neuroendocrine islet cell tumor, a rare, slow-growing type of cancer that affects as many as 3,000 people in the U.S. annually. These tumors are distinguished by their tendency to overproduce hormones such as insulin. Excess hormones can lead to low blood sugar, low blood pressure or other symptoms.

Neuroendocrine tumors that originate in the pancreas, as Jobs’s did, often spread to the liver. One option doctors have in these cases is to perform a liver transplant, Brower said.

“It’s one of the tumors for which transplantation can be considered,” said Brower, who is a member of the American Society of Clinical Oncology. “It’s rare, but it’s sometimes done.”

Jobs underwent extensive abdominal surgery when his tumor first appeared. He may have undergone a Whipple procedure, in which parts of his pancreas, small intestine, stomach and bile duct would have been removed, to try to rid his body of all cancerous tissue. The pancreas often ceases functioning after such surgery and needs to be removed.

Treatment Outcome

Brower said the transplant might work out well in a patient whose neuroendocrine cancer began in the pancreas, in part because this tumor type often spreads only to the liver and grows so slowly. Even after having had a Whipple procedure, a patient might expect to have good quality of life, he said.

“The outcome can be quite good,” he said. “With immunosuppressive drugs, the patient can expect to have a significant, durable life expectancy.”

Some liver transplant patients get part of an organ from a living donor. After the operation, the livers of the donor and recipient grow back to normal size.

A patient getting a liver transplant for a neuroendocrine tumor that has spread from the pancreas might get a partial organ, Brower said. Complete organs that come from cadavers are in short supply, and are generally reserved for patients with liver failure, cirrhosis or certain kinds of liver cancer, he said.

Companies have a requirement to clear up any misleading information on a CEO’s health, said Stanley Sporkin, a former federal judge and U.S. Securities and Exchange Commission enforcement director. While the SEC doesn’t require a company to disclose health information, the company still should, he said.

Informing Shareholders

“The company almost has a duty or responsibility not to let the company be run by rumors,” Sporkin said. Informing shareholders is good corporate governance, while failing to do so may open the company up to insider trading, he said.

A shareholder suit related to Apple’s disclosures about Jobs’s health would be difficult, said Mark Molumphy, who represented investors in a lawsuit that claimed Apple executives lied to shareholders about backdated option awards. Apple settled the suit in September.

“Someone would probably have a good argument that this information is material,” Molumphy said. “The hard part would be to show that the board or company officers withheld information on his true health condition. How do you prove what his true health condition is?”

To contact the reporters on this story: Connie Guglielmo in San Francisco at cguglielmo1@bloomberg.net; John Lauerman in Boston at rgale5@bloomberg.net. Dina Bass in Seattle at dbass2@bloomberg.net;

Last Updated: January 16, 2009 16:28 EST

End of quoted material.
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Posted: Jan. 17, 2009, 9:38 am Quote

SEC Watch: Jobs Renominated For Disney Board

By Staci D. Kramer, Washington Post

January 17, 2009

Apple (NSDQ: AAPL) isn't the only company where Steve Jobs has a formal role. Jobs joined the Disney (NYSE: DIS) board as part of the company's 2006 all-stock acquisition of Pixar valued at $7.4 billion; the stock he held as chairman and CEO of Pixar was enough to make him the largest shareholder in Disney after the swap. Despite his medical leave of absence from Apple, Jobs is on the company's 12-person slate for 2009, according to the 2009 proxy filed with the SEC Friday. During 2008, Jobs was one of 11 directors who attended at least 75 percent of required meetings. He is the only non-employee director who receives no compensation for his presence on the Disney board; then again, he owns 7.4 percent of the company's stock. (His holdings haven't changed since the Pixar deal but the outstanding stock pool is smaller, increasing his percentage.)

Staying on the Disney board is in tune with Jobs' overall approach to his health and work: business as usual?as much as possible. Even his staff message explaining his decision to step aside at Apple for the short term is balanced by a reminder that he will remain involved in strategic planning. But, as the back-to-back announcements about Jobs' health illustrate, circumstances can change quickly. Still, even though he is the largest shareholder, Jobs' role as one of a dozen directors at Disney is vastly different from his responsibilities as the CEO and public face of Apple.

The same Disney proxy includes a re-nomination of Aylwin B. Lewis, the only board member who could not attend 75 percent of the six required meetings, explaining that it "was caused by an unusual set of professional and personal circumstances." That included a "professional transition and a family health issue issue that triggered scheduling conflicts that were both unpredictable and unavoidable." The rationale for keeping him: in the previous five years, he met the requirements. Lewis switched to president and CEO of Potbelly Sandwich Works from president and CEO of Sears Holdings Corp.


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Posted: Jan. 17, 2009, 7:15 pm Quote

What exactly is the sucession plan should Steve Jobs have to leave Pixar? Does it just automatically become part of Disney animation, with Disney appointing a new head, or is there an agreement on someone else?

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Posted: Jan. 17, 2009, 9:27 pm Quote

Pixar is already part of The Walt Disney Company and Steve Jobs is not its CEO, although he is on the Disney board of directors.

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Posted: Jan. 17, 2009, 10:01 pm Quote

Right, but isn't he still considered the head of that division? Before he sold it to Disney did he have someone set to take control of that part of his company, and if so is that person on the short list of people to take over as head?

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Posted: Jan. 17, 2009, 10:53 pm Quote

John Lassetter is the head.

Steve Jobs is the head of Apple, not Pixar.


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23 replies since Jan. 26, 2006, 11:04 am < Next Oldest | Next Newest >

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