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Jobs stays in driver's seat?
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March 30, 1998: 6:38 a.m. ET
Directors decide not to impose deadline for interim chief to take post
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NEW YORK (CNNfn) - Apple Computer Inc.'s board is going to keep co-founder and interim chief executive officer Steve Jobs at the wheel of the computer maker - for now.
Directors of the company say that Jobs may remain as the computer maker's acting chief as long as he pleases, The Wall Street Journal reported Monday. Jobs has been running the Cupertino-Calif.-based company since the ouster last July of former chairman and chief executive officer, Gilbert Amelio.
The search for a successor has continued in recent months amid a welter of conflicting signals over Jobs' future plans. Speculation had been rife prior to the board meeting that directors were considering imposing a deadline for Jobs to make his intentions known.
Now, the board endorsement is expected to cut the hard-pressed company some slack as it continues its executive search - one in which some directors have already hinted at their leanings.
"He is the CEO," Edgar Woolard, a veteran board member told the Journal. "Whether we call him interim or not interim is a non-issue with us. We hope he stays with us for a long time."
Until now, Jobs had been reluctant to remain in the high-profile post, citing a desire to spend more time with his family and pursue other avocations, particularly his work with Pixar Animation Studios. But the Journal, citing people close to situation, said Jobs has more recently suggested he would stay on since he will be able to delegate more responsibility to a larger management team he has assembled.
Shares of Apple (AAPL), which have more than doubled since last July, ended up 3/8 Friday, at 26-15/16.
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