2000 Jobs’ return as CEO

After being ousted from Apple in 1985, Steve Jobs spent 13 long years away from the company, founding computer firm NeXT and securing early funding for

Pixar. However, by 1997 Apple was a mere shadow of its former self and on the verge of bankruptcy. After it bought NeXT for $427 million, Jobs was brought back to the company he had co-founded as Interim CEO in an attempt to get the ailing business back on its feet again.

He immediately began slashing extraneous projects at Apple in a bid to reduce costs, with the CyberDog, OpenDoc and Newton ventures all being ditched. Employee benefits were pared back and executive bonuses were also reduced or cut.

Before long, Apple had returned to profitability, and announced a $45 million profit in January 1997, the first since Jobs’ return. Publicly, though, Jobs said he didn’t want to stay at the company on a long-term basis, and Apple was searching for a permanent CEO. But at the Macworld conference in January 2000, Jobs had a trick up his sleeve.

Centre stage

After discussing how Apple’s tight integration of software and hardware allowed it to innovate like no other company in the industry, he recounted how two-and-a-half years prior he had rejoined Apple. He then asked the Apple staff who had been

working on OS X to stand up for a round of applause, before doing the same for some of its advertising and graphics partners. He explained how he had been a “dual CEO” at both Apple and Pixar, that it was working, and that henceforth he would be the full-time CEO of Apple.

And with that, the room erupted into cheers and applause. With new, exciting products and a legendary leader at the helm, now it was Jobs’ turn to receive a standing ovation.