Exit, Pursued by a Bear
Jobs had refused to quash Larry Ellison's takeover talk, and he had secretly sold his shares and been misleading about it.
So Amelio finally became convinced that Jobs was gunning for him.
"I finally absorbed the fact that I had been too willing and too eager to believe he was on my team," Amelio recalled.
"Steve's plans to manipulate my termination were charging forward."
Jobs was indeed bad-mouthing Amelio at every opportunity. He couldn't help himself.
But there was a more important factor in turning the board against Amelio.
Fred Anderson, the chief financial officer,
saw it as his fiduciary duty to keep Ed Woolard and the board informed of Apple's dire situation.
"Fred was the guy telling me that cash was draining, people were leaving, and more key players were thinking of it," said Woolard.
"He made it clear the ship was going to hit the sand soon, and even he was thinking of leaving."
That added to the worries Woolard already had from watching Amelio bumble the shareholders meeting.