Hormonal Imbalance? Like Male Menopause?
News Commentary. Apple CEO Steve Jobs has done the right thing by saying something about his health. Problem: I find his letter to the Mac community unconvincing. |
On Saturday, I posted a list of six things Apple must do at Macworld Expo. The first and most important: Fess up about Steve's health. His letter breaks the silence started when Apple announced that this year's Macworld Expo would be the company's last—oh, by the way, Steve won't keynote this year. I called the Macworld pull-out announcement a smokescreen trying to obscure the bigger news: Steve's keynote no-show.
Steve describes his ailment as a "hormone imbalance that has been 'robbing' me of the proteins my body needs to be healthy." This imbalance, which is now being treated, is explanation for his thin appearance, Apple's CEO claims. About his executive responsibilities, Steve writes:
My doctors expect it will take me until late this Spring to regain it. I will continue as Apple's CEO during my recovery. I have given more than my all to Apple for the past 11 years now. I will be the first one to step up and tell our Board of Directors if I can no longer continue to fulfill my duties as Apple's CEO.
I'm simply not convinced by this letter. Before explaining why, I do want to commend Steve for finally saying something. But this statement should have come weeks ago rather than on the eve of Macworld, with Steve sharing "something very personal with the Apple community so that we can all relax and enjoy the show tomorrow."
The show is the point. Tomorrow's Macworld is Apple's last, and this month is the 25th anniversary of the Macintosh. Apple launched the trend-setting computer on Jan. 24, 1984. Both are reasons why Steve shouldn't miss giving the Macworld keynote, of being brightly in the spotlight. The man has a well-deserved reputation for ego. I can imagine few reasons for him to miss the opportunity to stand before what could otherwise have been a record Macworld turnout. He can't be physically strong. Why else miss the opportunities presented by the keynote?
Something else really important that riles up my sense of a chief executive's ethical responsibilities: Steve describes his health as "something very personal," and he concludes the letter by writing, "So now I've said more than I wanted to say, and all that I am going to say, about this." I don't doubt that he has said more than he wanted to, but, way I see it, he hasn't said enough or to the right people.
As I've repeatedly asserted: There are no private matters at public companies. The letter shouldn't have been addressed to the "Apple community," but to Apple shareholders. They own the company. It is to them that Steve is beholden. He works for them, not Apple's board of directors or the Mac community.
I believe that all CEOs of public companies—not just Steve Jobs—should be required to release annual health reports. Their fitness is hugely important to the shareholders.
The president of the United States does this. He serves the American people, in some ways like CEOs serve shareholders. There aren't supposed to be private matters in public office. If the president becomes sick, then there must be a succession plan and transfer of power. The president's privacy stops the day he enters the Oval Office. President-elect Barack Obama will likely give up his BlackBerry because of policies governing what is public or private. He doesn't want to.
The U.S. economy is in crisis, in part because public companies failed to be transparent. They kept secrets from shareholders, the companies' real owners. I challenge Apple and Steve Jobs to make a New Year's resolution: Be more transparent, and in doing so better serve Apple's true owners.
Steve's letter is a good starting place, but it doesn't go nearly far enough. The letter doesn't say if the hormonal imbalance is the only reason for Steve's health problems, nor does it definitely answer whether or not his cancer has returned. Upon close reading and rereading, I see the letter clearly having PR objectives.
The letter is cleverly written by the master of the famed Steve Jobs reality distortion field. Bloggers, financial analysts and journalists will write about the letter and say that it puts to rest any questions about Steve's health. Not me. I see the letter as raising more questions—about the extent of CEO privacy, proper executive disclosure to shareholder and whether the hormonal imbalance is the only reason for Steve's health problems.
[Please send your tips or rumors to watchtips at live.com].
Comments (7)
Thyroid problems could lead to the kind of weight loss Steve Jobs has experienced, and frequently this can be treated with medication. I don't know about that "robbing me of the proteins my body needs" part, though.
Whatever the problem is, I think you're right about that "line of succession" bit. Who mans the helm if the captain keels over? I think if the Apple community is comfortable with that, they won't be so anxious over the health of Mr. Jobs. Other than to wish him well.
Posted by Bob | January 5, 2009 2:06 PM
I can't agree about the health disclosure as you've argued. My first question is what should be "disclosable"? My second is what about immediate family? Surely a catastrophic illness with a CEO's spouse impairs his/her ability to function. What about physical illness versus mental illness versus treatable, etc. Who should report: c-level, line-of-succession, critical operational managers?
But instead, let me take a different tact. Since freedom of the press (read: journalists) are protected in the Constitution of the USA, I'd like to see the same health disclosure (as well as financial, and influence disclosures) on file and regularly updated for every professional journalist and blogger who wants to be taken seriously. Maybe we can build this into a code of conduct and professional journalists and media outlets cannot reference sources who do not comply.
Do these thoughts provoke a privacy concern for journalists? They should, as they invoke the same concern from c-levels (who are, when you get down to it, regular folks like you and me).
I think this topic deserves some serious thought rather than just an rally cry. And Joe, if you consider yourself a serious journalist, you know all this already.
Posted by Joe Pickering | January 5, 2009 3:06 PM
Joe, shutup, you are asking for too much. The guy said its a mystery to him also why he is losing weight. I think eWeek should shutdown your blog immediately, you love to poke into peoples lives like Perez Hilton too much. There must be balance, Steve is trying to be as transparent as possible without turning this thing into the only subject of Apple. Remember, they make great products too. Other folks at Apple such as Jonathan Ive, Phil Schiller, Scott Fortstall, Bertrand Serlet, Tim Cook and many, many more have the Company under control.
You need to be very reasonable Joe, next thing you will be asking is, 'What is Lauren cooking for Steve's dinner?" The only thing I can blame Steve for is not pulling out of that crap named IDG MacWorld after the Intel Mac launch in January 2006. Give the guy a break man!
Posted by Andre Da Costa | January 5, 2009 3:39 PM
Actually Steve does work for the board and not for the shareholders as was made acutely aware to him in 1985 ;) The board serves by election from the shareholders and the board approves management. If the board is comfortable with his health and shareholders are not then they have options: sell (which has been going on a lot lately!), go to the board, go to the press, or go to the legislature.
Bill Gates left Microsoft without any health reasons but because he wanted to do something else; by your logic shouldn't all CEOs should have a psychological exam each year to assess whether they'll leave for other reasons?
Posted by Alan | January 5, 2009 3:41 PM
Do you think all CEOs of publicly-traded companies should release all their medical records to the press immediately? Perhaps we should have a periodic health screenings for CEOs? Maybe other company officials should also release their private health records? Where do you draw the line?
Posted by SuperMatt | January 5, 2009 5:50 PM
"As I've repeatedly asserted: There are no private matters at public companies. The letter shouldn't have been addressed to the "Apple community," but to Apple shareholders"
I repeatedly agree! (grin)
Posted by JohnJ | January 5, 2009 7:39 PM
Wow. I think you should name your "Apple Watch" Blog to "Apple Trash Talk". I've skimmed your blogs today, and found your kid-glove handling of all news Microsoft as compared to Apple disappointing. Also disappointing is the above rant on a personal health issue.
I was looking for news about Apple that I could read without having to suffer through editoral extremes on either end. I have not found that here. Good luck to your Blog, but you would probalby attract more readers if you were a bit more level in your reporting.
Posted by 1 day ready | January 8, 2009 1:14 PM