July 10, 1981: Michael Scott Leaves Apple
Apple's first President, Michael Scott, had lost any real power shortly after Black Wednesday. Yet former, President Scott stayed on the payroll in no small part because Apple was about to stage a second offering of stock.
With Apple's second successful stock sale completed, the sole reason for Michael Scott staying on as a figurehead was gone. Scott completed his resignation letter, which stated in part:
"So I am having a new learning experience, something I've never done before. I quit, not resign to join a new company or retire for personal reasons…This is not done for those who feat my opinions and style, but for the loyal ones who may be given false hope."
He ended the letter with the words:
"Yours. Private Citizen
Michael Scott, the hot tempered President of Apple Computer with a great sense of humor even when it came to the big stuff, officially left Apple on July 10, 1981.