Thursday, August 25, 2011

Steve Jobs Resigns as CEO of Apple, Named Chairman of the Board of Directors

Letter from Steve Jobs
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.

And with that, an era ends.

As many know, Steve's health issues have seen him take leaves of absence from his duties at Apple and, reading between the lines, this might be what forced the issue. I hope I'm reading this wrong!

Tim Cook becomes the fourth (fifth if you count the two stints Steve has as being separate) CEO at Apple. We all wait to see what will become of the company remembering how Apple faltered under CEOs other than Steve. Wall Street responded with a fall in stock price.

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