The future leadership of Apple remains in doubt as CEO Steve Jobs, who is on indefinite medical leave, did not show up at the company's annual general meeting at its headquarters in Cupertino, California on Wednesday. Chief operating officer Tim Cook, who is filling in for Jobs, spoke to shareholders on his behalf.
Although Jobs recently attended a dinner party organized by the White House at the home of a venture capitalist, Tuesday's absence has fueled rumors about his failing health. Many industry watchers had expected the company to clarify its future management plans at the meeting, but the topic was not discussed.
Some of Apple's shareholders have called on the company to disclose Jobs' condition and reveal plans for who will succeed him. The U.S. Central Laborers' Pension Fund had submitted a proposal to force the company to publicize the plan, citing the examples of some 30 leading companies such as HP and Intel that had done so in the past. But a majority of shareholders rejected the proposal at the meeting, fearing that rival companies might benefit if the firm's strategy was made public.
But Tuesday's meeting pointed to Cook as a strong candidate for the top spot. In March 2008, Jobs officially mentioned him as a potential successor. After working at IBM and Compaq, Cook joined Apple in 1998, leading its overseas sales department as well as development of the iPhone 4 and iPad. He has kept the company on track in Jobs' absence, as it continues to develop and launch new products. Apple is expected to unveil the new iPad next week.
Customer loyalty to Apple also remains strong. In a survey by market researchers ChangeWave and RBC Capital Market, 84 percent of respondents said they would continue to use Apple products even when Jobs leaves the company, up 16 percent from a similar survey conducted in June 2008.
