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Gil Amelio’s NeXT Deal: How a Short‑Lived CEO Saved Apple

AppleInsider •
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Gil Amelio’s brief stint as Apple’s CEO may be the shortest in the company’s history, in the mid‑1990s, yet his decision to acquire NeXT reshaped the future. The purchase delivered NeXTSTEP, the OS that evolved into macOS, and opened the door for Steve Jobs’s return. Despite personal friction, the move proved essential for Apple’s turnaround.

Before joining Apple’s board, Amelio rescued National Semiconductor from loss, earning him a seat at the table during Michael Spindler’s faltering leadership. He warned the board against cheap discounting that sank a 1995 holiday quarter, which later revealed a $69 million loss. Those internal battles left the company vulnerable to takeover talks with Sun Microsystems and a bruised relationship with Japan’s sales unit.

When the board finally named Amelio CEO, his contract listed a $990,000 salary, a $5 million signing bonus and stock options worth millions. Apple lawyers later trimmed those terms, tying most compensation to performance and converting the bonus into a repayable loan. The revised package reflected the board’s hope that he could stabilize the product line.