Steve Jobs, the man who has been the guiding force at Apple, driving both the iPhone and iPad launches, as well as the company for the last decade, has resigned his post as Chief Executive Officer at Apple Inc. The announcement was made today.
Apple’s chief operating officer, Tim Cook (who has been filling in for Jobs since January), will take over as CEO of the company.
Jobs, the company co-founder, and his health has been the focus of much speculation since he took a medical leave two years ago to receive a liver transplant. Jobs was diagnosed with pancreatic cancer. The markets had already closed prior to the announcement, but Apple stock (AAPL) is expected to take a hit in light of the announcement.
The announcement via BusinessWire:
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.
Steve Jobs sent a personalized letter announcing his resignation to the Apple Board of Directors and the Apple Community. In it, he said he would still serve on Apple’s Board of Directors.
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