April 23, 2024

Steve Jobs had been wheeled into the boardroom for what would be the Apple director’s last meeting of his life. It was Aug. 24, 2011. Chief Operating Officer Tim Cook and CFO Peter Oppenheimer made presentations on the company’s latest progress.

Then Jobs, weakened by pancreatic cancer and speaking from his wheelchair, asked everyone but the outside directors to leave the room. Once they had, he said he could no longer carry out the duties of CEO. As expected, he recommended that Cook succeed him.

The board passed the necessary resolutions. Jobs stayed for lunch, after which the directors hugged him in turn, and he was driven home. He died six weeks later.

Fortune.com

7 thoughts on “The rise of the billionaire CEO: How Steve Jobs’ final board meeting at Apple created a new way to pay CEOs staggering sums

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