July 8, 1997: Steve Jobs begins his path to becoming chief executive officer of Apple, after former CEO Gil Amelio departs the company on the back of a massive quarterly loss. Also leaving Apple is Ellen Hancock, executive vice president of technology.
To run Apple’s day-to-day operations, CFO Fred Anderson takes over until a new CEO can be found. Jobs, meanwhile, moves from strategic adviser to take “a more expanded role with Apple’s board and executive management team,” according to CNN Money.
Cupertino’s turnaround has started!