Steve Jobs’ exit from Apple won’t have immediate effect

Although much hoopla has surrounded Steve Jobs’ resignation as CEO of Apple, his exit is unlikely to have an immediate effect on the company, according to one analyst firm.

Jobs’ exit caused some degree of shareholder concern, with Apple stock dropping 5% following the announcement of his resignation earlier this week.

The reveal also provided fodder for mainstream and niche media outlets, many of which have thrived on Jobs-related gossip in recent years, particularly surrounding rumours of his health.

But Jobs’ resignation is unlikely to have an immediate effect on Apple and the industries in which it competes, according to analyst firm Ovum.

This is for several reasons.

“Firstly, Tim Cook, former COO and newly appointed successor to Steve Jobs, has been running the company since Jobs began his latest medical leave in January,” said Jan Dawson, Chief Telecoms Analyst at Ovum.

“Secondly, Jobs will now serve as Chairman and will therefore continue to have a role with the company, at least in the short term,” Dawson said.

“And thirdly, the broad direction and strategy for the company and its major products for the short to medium term will already be in place, and will not be affected by this change,” Dawson said.

However, in the longer term, Jobs’ exit may have more significant consequences for Apple.

“Though Tim Cook is considered a safe pair of hands as an operational leader, he does not have a reputation as a visionary. And should the time ever come when Steve Jobs no longer has a role with the company, Cook will have to rely on others on Apple’s senior leadership team to provide an ongoing strategic vision, and there is no single figure that obviously fills that role going forward,” Dawson said.