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Steve Jobs Resigns as Apple CEO

Shocking news out of Cupertino today. Apple has announced via a press release that Steve Jobs has stepped down as Apple’s CEO. Jobs has bee...


Shocking news out of Cupertino today. Apple has announced via a press release that Steve Jobs has stepped down as Apple’s CEO. Jobs has been called an icon and a visionary by many. Tim Cook, formerly the COO and interim CEO of the company, will become the permanent CEO of the world’s most powerful technology company.
According to the press statement, Jobs tendered his registration to the Apple Board of Directors today, and urged them to name interim CEO Cook to the role full time. As we’ve come to expect from such statements on this nature, there was no comment on if this decision to step down was related to Jobs’ health. The tech titan has had a number of health issues in recent years, including a bout with pancreatic cancer and a liver transplant. He took another leave from Apple earlier this year on January 17. Tim Cook has functioned as interim CEO during all of Jobs medical departures.
Jobs’ resignation letter read:
I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.
I hereby resign as CEO of Apple. I would like to serve, if the board sees fit, as chairman of the board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.
I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you – Steve.
In a statement, Apple Director Art Levinson responded:
Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company. Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.
There has been concern about how well Apple would do without Jobs. The press statement issued by Apple went on to praise Tim Cook’s role in Apple as COO, claiming that Cook largely handed the supply and production business for Apple. The announcement regarding Jobs was made after the markets closed for the day. It’ll be interesting to see what reaction Wall Street has to Jobs’ departure from Apple tomorrow morning. I’d expect to see a considerable sell-off, as Jobs is given a lot of credit for Apple’s success in the investment world.
This is a huge moment for the tech world. For a tech fan in the internet era, the announcement that Jobs is leaving Apple will be one of those moments where you’ll remember where you were when you heard it. Certainly a lot of people will be concerned about Jobs’ health, and for the future of Apple. Feel free to share your thought about Steve Jobs, Tim Cook and Apple in the comments section below. For your information, we’ll embed the entire Apple press release as well.
CUPERTINO, Calif.–(BUSINESS WIRE)– Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.
“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple’s Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”
“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”
Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.
As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
© 2011 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS and Macintosh are trademarks of Apple. Other company and product names may be trademarks of their respective owners.


Read: Steve Jobs Steps Down as Apple’s CEO, Tim Cook Takes His Place [Apple Announces Steve Jobs Stepping Down From CEO Role, But Will Stay On As Chairman, Tech World Mourns Departure Of Tech Icon] | TFTS 
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