+- MacResource (https://forums.macresource.com)
+-- Forum: My Category (https://forums.macresource.com/forumdisplay.php?fid=1)
+--- Forum: Tips and Deals (https://forums.macresource.com/forumdisplay.php?fid=3)
+--- Thread: June 18, 1993: John Sculley steps down as CEO after 10 years (/showthread.php?tid=229602)
June 18, 1993: John Sculley steps down as CEO after 10 years - pRICE cUBE - 06-19-2019
https://www.cultofmac.com/555597/today-in-apple-history-john-sculley-steps-down-as-apple-ceo/
June 18, 1993: John Sculley steps down as CEO after a 10-year run at Apple.
Sculley is asked to leave by the Apple board after AAPL shares collapse from a high of $4.33 in 1992 to 73 cents the following year. He hands over the CEO role to Michael Spindler before briefly taking the role of Apple chairman, prior to departing altogether.
A few things led to Sculley’s departure. He wanted to move back to the East Coast, and considered taking the role of CEO at IBM. He was also heavily involved in politics, supporting Bill Clinton’s presidential campaign. From the perspective of Apple’s board, he was too involved with the Newton, at a time when Apple was facing increased competition from rivals.
After Sculley stepped down, the Apple CEO role was handed over to Michael Spindler, formerly the company’s COO. Sculley remained Apple chairman until October 1993, departing with a golden parachute of around $10 million. He went on to join Spectrum as chairman and CEO.
Re: June 18, 1993: John Sculley steps down as CEO after 10 years - mattkime - 06-19-2019
Dark days. Didn't realize he was at the helm for so long.
Re: June 18, 1993: John Sculley steps down as CEO after 10 years - Rolando - 06-19-2019
I wonder if he kept any stock, and how much it's worth now?!