Media still on Steve Jobs deathwatch

The media buzz persists as to the health of Apple CEO and creative driver, Steve Jobs, and who might be waiting in the wings to replace him. No word yet confirming that Jobs in fact is in ill health, but don’t let that dissuade the media from speculating and holding a morbid deathwatch. The current issue of Forbes (Sept. 1, “Life After Steve,” page 40) throws some names into the ring as potential successors.

Pardon my lack of enthusiasm, but despite my long-time admiration for the magazine, I think this story is off base.

Forbes cites two insiders and six outsiders, noting their respective “Pros” and “Cons.” Tim Cook, Apple’s COO, now runs the worldwide Mac business but, according to Forbes, “doesn’t score high on marketing flair and the vision thing.” The other insider is Ron Johnson, late of Target where he earned his marketing stripes (and, one would assume, the right to be cited in this brief piece). His “Con?” "He’s no software nerd.” Neither is Jobs, for that matter. Steve Jobs knows what he likes, and what he likes invariably is what his customers like. It seems to be working.

The Forbes list goes on, with senior execs from Dell, Nike, Lenovo, Nokia, P&G and Sony. All supposedly have the credentials to take over Apple. But at the same time, unsurprisingly, all seem to lack a common trait: none are Steve Jobs or his clone – as if that’s a prerequisite.

That’s where Forbes misses the point.

Let’s face it, when a superstar CEO passes from the scene, his/her successor is never a carbon copy. Nor does the new CEO carry forward in exactly the same way and direction as the former CEO. Despite the typically anxious market reaction around CEO succession, stockholders wouldn’t want it any other way. All the market really wants is a steady hand, guiding the company to continued growth and success. Stockholders hardly care how that happens. They want the hits (and profits) to keep rolling.

Jack Welch has always been quick to remind interviewers that Jeffrey Immelt is in charge of GE. Though he has had numerous opportunities to do so, Welch has never (publicly) second-guessed his successor. Fact is, if Welch were still running GE, it’s highly unlikely that he’d be doing the same thing he did when he handed over the reins to his handed-picked heir. That was seven years ago and there have been a lot changes in the competitive marketplace to drive necessary internal change at GE in the intervening years. For that matter, under Welch, GE never sat still for long.

Let the media speculate all they want. I’ll take the continuing public discussion as a firm message to the Apple board and Steve Jobs that they should be preparing a succession plan for the day when Jobs decides he wants to retire.

In the meantime, I’ll say a little prayer for Mr. Jobs’ continued good health, and raise a toast to a long, productive life for him.