The Power of a Company’s Brand: Can a Company’s CEO be Stronger than the Brand Itself?
Apple, Inc. is currently one of the most profitable and recognizable brands in the world. Further, Apple’s CEO, Steve Jobs, enjoys the corporate equivalent of rock star status. In fact, a case can be made that Jobs, with his wire-rimmed glasses and black turtlenecks, is recognizable as an omnipresent figure that defines his company.
Over the weekend, Apple announced that Steve Jobs is taking a second medical leave of absence. The letter, written by Jobs to his employees, does not state his intent to return, while, in 2009, Jobs promised his eventual return to the tech-giant he created. Despite that promise of return, Apple’s stock took a noticeable hit after the initial 2009 announcement.
Jobs, a survivor of pancreatic cancer, stepped away to focus on his recovery. During Jobs’ absence, Tim Cook took over the reigns as Apple’s Chief Operating Officer. While many analysts and industry insiders credit Mr. Cook for introducing more financially accessible laptops, and for improving the speed and features on the iPhone, he remains comparatively obscure.
Despite the impressive team of forward thinking engineers at Apple, the public still sees Jobs as the driving force behind the company’s innovative ideas and designs. It will be interesting to see what affect the uncertainty of Jobs’ return may have on share prices.
For more information on business branding and intellectual property, please speak with an attorney at Wood, Atter & Wolf P.A., at (904) 355-8888. Or visit us at www.woodatter.com.
