Apple is currently one of the technology giants in the world, and sales of its various devices are growing strongly, and it has even generated billions of dollars from the subscriptions and services it provides, bringing its market value this year to approximately $3 trillion. However, the maker was not... IPhone This is how in the past, he was suffering from obstacles and challenges that almost led him to the abyss.
However, there is a former CEO who took over the leadership of Apple for a very short period, but he was able to rescue the American company from disaster and return it to its normal position. In the following lines, let us learn about the story of Gil Amelio, the unknown soldier who is not known to many, and yet he saved the technology giant from extinction. .
Apple is on the brink of collapse
Apple was so close to its end that the technology company Sun Microsystems was negotiating to buy it at a very low price, and the Wall Street Journal wrote the story of Apple, which was a front-page obituary at the time, as the American company suffered from mismanagement and the failure of launching a new operating system for some time. Sales were not at their best as it had so many unsold computers in its warehouses, high operating expenses, and shrinking revenues, that its cash in the banks was only enough for three months.
By 1995, Michael Spindler, CEO of... Camel At the time, he told the company's board of directors that a sale was Apple's only hope of survival. He had spent the year since then searching for someone - anyone - who would pay more to take over the iPhone maker, and at the end of January 1996, Apple's board of directors met and, instead of deciding to sell the company, was given one last chance. Jill Amelio To be CEO of Apple in order to bring it to safety.
How did Emilio save Apple?
Gilbert Amelio served as Apple's fifth CEO for about a year (from 1996 to 1997), making him the shortest-serving CEO of the world's first $3 trillion company.
He was known for his leadership skills and the difficult decisions he made to save companies from sinking, and this is what he did with Apple, where he first focused on solving the cash crisis. Almost immediately, he succeeded where Spindler had failed: he convinced a group of Japanese banks to extend Apple's loans for six months, and two months later, he was able to conclude a financing deal with Goldman Sachs that put $661 million in Apple's treasury. Jobs even said afterwards that... What Amelio did was one of the most amazing business maneuvers I have ever seen.
Thus Apple was saved, but serious and rapid changes were needed. That's why he cut $250 million in operating expenses each quarter, laid off 3000 employees, reorganized the company, reemphasized the CEO's role in product development, and, most importantly, focused on delivering high-quality products.
Furthermore, Amelio established a five-year development plan, which included the iMac, ditched Copeland, an internal project aimed at creating a modern operating system, and then bought NeXT, so the operating system it developed later became the core operating system. OS
Finally, with Jobs back in the company as an advisor, Apple's board of directors soon forced Amelio to resign after the company was on solid ground, and Steve Jobs was appointed interim CEO. Thus, without Gil Amelio's contributions and desperate decisions to save Apple, the company that had been created would have disappeared. Its value amounts to $3 trillion, and the world would not have known Jobs and his achievements, nor would we have seen the iPhone, which is one of the best smartphones of our time.
We have a series of articles on the geniuses who made Apple, you might like to know more about them
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