Apple backdating stock
Pixar, where he served simultaneously as CEO, has come to dominate the animation business, churning out megahits like that prompted Disney (DIS) to buy the company in 2006 for .5 billion.(Jobs now owns 7.3% of Disney, worth .6 billion, in addition to Apple stock worth 2 million.) No less an authority than Jack Welch has called Jobs “the most successful CEO today.” Jobs, at age 53, has even become a global cultural guru, shaping what entertainment we watch, how we listen to music, and what sort of objects we use to work and play. Jobs is also among the most controversial figures in business.Jobs, after all, was widely viewed as Apple’s irreplaceable leader, personally responsible for everything from the creation of the i Pod to the selection of the chef in the company cafeteria.News of his illness, especially with an uncertain outcome, would surely send the company’s stock reeling.When Jobs returned in 1997 to Apple—then facing its own near-death experience—he arrived with a tarnished legend.He was, of course, the charismatic boy wonder who at age 21 had co-founded Apple with Steve Wozniak in his parents’ garage back in 1976.
A Buddhist and vegetarian, the Apple CEO was skeptical of mainstream medicine.Jobs decided to employ alternative methods to treat his pancreatic cancer, hoping to avoid the operation through a special diet—a course of action that hasn’t been disclosed until now.For nine months Jobs pursued this approach, as Apple’s (AAPL) board of directors and executive team secretly agonized over the situation—and whether the company needed to disclose anything about its CEO’s health to investors.“It was very traumatic for all of us,” recalls one of those in whom Jobs confided, speaking on condition of anonymity because of the topic’s sensitivity.“We all really care about Steve, and it was a serious risk for the company as well. This was one page in the adventure.” The Steve Jobs adventure: By now it’s one of the most remarkable stories in business.
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