Apple (Nasdaq:AAPL) shareholders had been dealing with rumors and uncertainty regarding the end of Steve Jobs' tenure as CEO for quite some time. Perhaps that explains why the reaction to the official announcement of Steve Jobs' resignation was calm and relatively moderate. Jobs' successor, Tim Cook, is already well-known to investors, analysts, and Apple employees, as he has been Apple's Chief Operating Officer for quite some time and filled in for Jobs as interim CEO during prior medical leaves of absence.
This calm reaction notwithstanding, CEO transitions can be major transformative events for corporations. Not only do new chief executives feel the burden of making their own mark on the company, but they live under the legacy (good or bad) of their predecessor and must deal with a company built to execute someone else's vision. With that in mind, investors may want to consider some of the more significant leadership transitions of the past years.
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