Steve Jobs Resigns As Apple CEO

Steve Jobs Retires As Apple CEOAfter bringing Apple back from the brink and turning it into the most valuable company in the world, Steve Jobs has resigned as CEO. Tim Cook, currently Apple’s COO will take over the CEO role, with JObs elected as Chairman of the Board.

Jobs has struggled with his health after being diagnosed with pancreatic cancer in 2004, making only brief public appearances for the last few years – but it is his vision that has brought the Cupertino-based company to its current prowess. He founded Apple Computers back in 1976 with Steve Wozniak, but left the company in 1985 after an internal power struggle with then Apple CEO John Sculley. He only came back to Apple in 1996 when they bought NeXT Computers – a company Jobs founded around the time he left Apple.

Since returning to Apple, Jobs had had numerous successes in both the PC brands and consumer electronics. The iMacs, iBook and later MacBooks have all been very successful, and with the shift to Intel CPUs and the launch of OSX, Apple has become a top five computer manufacturer worldwide. The successes with the iPod, iPhone, and most recently iPads has been difficult to ignore as well, with Apple leading or debatably even creating the markets for smartphones and tablets.

Tim Cook has been with Apple for 13 years, and he is Jobs’ choice for succession after effectively running the company during Jobs previous absence for health issues, with his plan today approved by the Board.

Here is Jobs’ resignation letter to the Board

To the Apple Board of Directors and the Apple Community:

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.


[via Yahoo/Business Wire & TNW]

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