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Steve Jobs resigns as Apple CEO

Steve Jobs introducing the iPhone
Steve Jobs introducing the iPhone
The public figure of Apple Inc. will be stepping down from the corporation with little explanation

In a surprising turn of events, the Chief Executive Officer and face of Apple Inc. has formally announced his leave as CEO with no reason given. Jobs would like to stay with the company, however, but as a “Chairman of the Board, director and Apple employee.”

As for a CEO replacement, Jobs is recommending fellow CEO Tim Cook to take over responsibilities. “As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple,” said Jobs in his goodbye note to Apple employees.

Jobs had previously taken medical leave from his company in 2004 and 2009 due to pancreatic cancer and liver transplant complications, respectively. It is entirely possible that his current medical condition cannot keep up with the demands as CEO of the multi-billion dollar corporation.

Steve has made countless contribution to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team,” said Chairman of Genentech Art Levinson, on behalf of Apple’s Board. Indeed, Jobs was the mastermind during the crucial period of the first generation of iPods, iPhones and iPads, which brought the Cupertino Company to what it is today.

The press release is provided below, while the full formal letter from Steve Jobs to all his employees is provided here:

***

August 24, 2011–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.

***

Expect more news to come as this developing story will assuredly send ripples throughout the tech industry.

Source(s)

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Author: Allen Ngo, 2011-08-25 (Update: 2012-05-26)