Apple’s board wasted no time Wednesday in defending CEO Steve Jobs’ health disclosures and his absence from the annual shareholder meeting in the company’s Cupertino, Calif., headquarters.
Shareholders expected to hear business details, but the real question on many minds was Jobs’ health and whether the company has a succession plan in place. Board members dodged questions from shareholders on Jobs’ health and what plans they have.
Arthur Levinson, chief executive of Genentech and a board member, said he believed Apple had met all disclosure obligations and told the audience that nothing had changed. “Succession planning is something the board takes up regularly,” he said, according to Dow Jones. “You can assume we will do that responsibly.”
Chief Operating Officer Tim Cook, who took over for Jobs at the meeting, said he is confident about the future of the company.
“From what I’ve seen, there was not a whole lot or news or action, nor was anything expected,” said Michael Gartenberg, vice president of strategy and analysis at Interpret. “It was marked by Mr. Jobs’ absence, and that was not a surprise. As expected, there was at least one question from the audience about Mr. Jobs’ health. They responded by saying he’s on a medical leave absence and will be back in June.”
“My opinion has not changed, and that is that Steve Jobs’ health is a private matter for Steve Jobs and his family,” Gartenberg added. “At this point he has recused himself from that role, and obviously people will be looking to see if he returns in June to full capacity.”
“It comes back to the fact that if Jobs is back at the company in the capacity of CEO, that is the end of the story, and Apple said that is what it plans on happening,”…