John Sculley III
(born April 6, 1939) is an American businessman, entrepreneur and investor in high-tech startups
. Sculley was vice-president (1970–1977) and president of Pepsi-Cola
(1977–1983), until he became chief executive officer
(CEO) of Apple Inc.
on April 8, 1983, a position he held until leaving in 1993. In May 1987, Sculley was named Silicon Valley
's top-paid executive, with an annual salary of US$10.2 million.
Sales at Apple increased from $800 million to $8 billion under Sculley's management, although many attribute his success to the fact that Sculley joined the company just when Steve Jobs
' visions and Steve Wozniak
's creations had become highly lucrative. However, his stint at Apple remains controversial due to his departure from co-founder Steve Jobs's sales structure, particularly regarding Sculley's decision to compete with IBM
in selling computers to the same types of customers. Others say that the "two clashed over management styles and priorities, Jobs focusing on future innovation and Sculley more on current product lines and profitability". But Sculley ultimately was forced to step down as Apple CEO because he was opposed to licensing Macintosh software and was talking to Goldman-Sachs
about splitting Apple into two companies. When Sculley left in May 1993, Apple had $2 billion in cash and $200 million in debt. Read more...