Apple
Jobs, 54, was considering the procedure as a result of complications following his 2004 surgery to remove an islet cell neuroendocrine tumor, Bloomberg News reported in January, citing people who were monitoring his illness. Apple reiterated yesterday that Jobs plans to return to the Cupertino, California-based company at the end of the month.
Apples board sought legal advice on how the company should deal with disclosures about Jobss health, according to people familiar with the matter. The boards handling of the situation may be acceptable, especially since the company has continued to function well in his absence, said John Dienhart, who holds the Frank Shrontz Chair for Professional Ethics at Seattle University.
“If people were worried about Apples team and they werent meeting expectations or the products werent as good as they were promoted to be, then Jobss health becomes more important from an investor point of view, even while hes on medical leave,” Dienhart said. “But given he was on medical leave and theyre rolling along, theres a huge expectation in this country of medical privacy.”
Hormone Imbalance
Jobs didnt respond to an e-mail seeking comment. Apples lead directors, Intuit Inc. Chairman Bill Campbell and Genentech Inc. Chairman Art Levinson, also didnt respond to requests for comment.
“Steve continues to look forward to returning to Apple at the end of June and there is nothing further to say,” said Steve Dowling, an Apple spokesman. He declined to comment on the role of Apples board in Jobss health disclosures.
Apple hasnt disclosed the exact nature of Jobss medical condition. Jobs appeared thinner at an Apple event in June of last year. He said on Jan. 5 he was suffering from a hormone imbalance and would remain CEO. Nine days later, Jobs said his health issues were more complex, prompting his decision to take leave through the end of June and turn over day-to-day management to operating chief Tim Cook.
Jobss weight loss last year sparked concerns that his health was deteriorating. The company said he was suffering from a “common bug” and then declined to comment further, saying his health was a private matter.
New CEO?
Some investors, such as Michael Obuchowski at First Empire Asset Management Inc. in Hauppauge, New York, have said that Jobs should consider giving up the CEO job permanently when he returns. Jobs could take a new position, possibly as Apples chairman, letting him guide the company with less scrutiny of his health, Obuchowski said.
Cook and a team of product and marketing executives have raised their profiles in Jobss absence, unveiling updated Macintosh computers and iPod media players. The company also released a new iPhone on June 19.
Apples other directors, including former U.S. Vice President Al Gore, Google Inc. CEO Eric Schmidt, J. Crew Group Inc. CEO Millard “Mickey” Drexler, Avon Products Inc. CEO Andrea Jung and former International Business Machines Corp. finance chief Jerome York, either couldnt be reached or didnt respond to requests for comment.
Apple rose $3.60 to $139.48 on June 19 in Nasdaq Stock Market trading. The shares have gained 63 percent this year.