3 years ago
delmontequality
in English · 7,534 Views
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Steve Jobs was Really Tricky
During Amelio's tenure Apple's stock continued to slump and hit a 12-year low in Q2 1997 that was at least partially caused by a single sale of 1.5 million shares of Apple stock on June 26 by an anonymous party who was later confirmed to be Steve Jobs. Apple lost another $708 million. On the July 4, 1997 weekend, Jobs convinced the directors to oust Amelio in a boardroom coup; Amelio submitted his resignation less than a week later; and Jobs then became interim CEO on September 16. In a 1997 interview with technology journalist Gina Smith, who asked him how Apple was doing, Jobs quoted Amelio as once saying: "You know, Apple is like a ship, that ship is loaded with treasure, but there's a hole in the ship. And my job is to get everyone to row in the same direction." It was reported that Amelio's contract gave him about $3.5 million in severance pay, after a $2.3 million performance bonus in 1996.
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2 comments
Tricky tricky
3 years ago·Reply
haha classic steve, always steving
3 years ago·Reply