July 6, 1997: Following a massive quarterly loss for Apple, board member Edgar S. Woolard Jr. calls CEO Gil Amelio and informs him that he needs to step down. “You’ve done a lot to help the company, but the sales haven’t rebounded,” Woolard says.
Steve Jobs denies being responsible for Amelio’s ouster. However, the move results in him becoming Apple CEO for the first time. Now it’s time for a real turnaround!