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Steve Jobs Resigns As Apple's CEO

| 25 Aug 2011 13:55
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Steve Jobs says iQuit after years of helping you "look cool" at Starbucks.

Visionary, business mogul, inventor, alleged cult leader; how does one truly sum up the man that is Steve Jobs? After co-founding Apple in 1976, Jobs went on to start a second computer company, buy The Graphics Group (now known as Pixar--good call on the name change, Steve), produce Toy Story, come back to Apple, and start what in retrospect can only be considered a complete overhaul of the way people store and listen to music, surf the internet, and define the term "cell phone." Love him or hate him, Steve Jobs has almost single-handedly changed the gadgetry landscape, forcing tech giants ranging from Microsoft to Sony to abandon innovation for reactionary development. Now, thirty-five years after starting the company that would grow to have more money than the United States government, Steve Jobs has resigned his post as Apple's Chief Executive Officer.

The following is his resignation letter in full, addressed both to his 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

Following the sudden resignation, Apple's board immediately named Tim Cook as CEO and Steve Jobs as Chairman of the Board per the letter's recommendation. Cook has also been allowed to join the company's Board of Directors.

For those of you wondering who this Tim Cook character is (and why he gets to see the new iPhone before you do), he is the company's now former chief operating officer. Apple's official statement describes Cook as "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." Well, that clears that up.

There's no official word yet on why Jobs left, whether or not Cook will wear a black turtleneck, or what your shares of Apple stock are going to be worth next year.

--
Sent from my iPhone

Source: CNN

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