The skinny: Amelio was always the wrong guy for the job. His expertise was in chips, not PCs, and while he did make strides toward reforming the company’s cash-flow problems, he never figured out how to position Apple in a world where Microsoft rules the desktop and everything else centers on the Internet. This vision deficit led to a deadly drain in the value of what was once Silicon Valley’s most dynamic brand name, not to mention a historic low in its stock price. (So low that a scavenger like Oracle’s Larry Ellison may well spend a stray billion to swoop up the whole enchilada.) The good news is that now there’s an opportunity for a Hail Mary CEO candidate: some brilliant leader who might try something drastic and inspired to revive the company, which still makes very cool computers. The bad news is that the decision on whom to hire is in the hands of a board of directors that hasn’t done anything smart since Bill Gates began to shave.
