Steve Jobs resigned as Apple’s CEO. Tim Cook is the new CEO.
Steve Jobs, the co-founder of Apple, has announced his resignation as CEO of the company and decision to serve as Chairman of the Board last night.
Steve Jobs, who has fought a long-running battle with cancer, wrote in the resignation letter sent to the Apple’s board and community:
“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.”
Steve Jobs dropped out of college and founded Apple with Steve Wozniak and Ronald Wayne in April 1st 1976. For many years, Steve Jobs’ name was synonymous with Apple.
Apple shares were suspended last night.
Tim Cook, who was named by Steve Jobs as his successor, ran Apple when Jobs went on medical leave and has essentially been running day-to-day operations since early this year.
Art Levinson, Apple board member praised Steve Jobs’ leadership.
“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” he said in a statement.
“The board has complete confidence that Tim is the right person to be our next CEO,” Art Levinson added.
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