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Steve Jobs Resigns as CEO of Apple

Steve Jobs has resigned from his post as CEO of Apple, according to information released by the company on Wednesday afternoon.

Jobs, who founded Apple in 1976, will be replaced by Chief Operating Officer Tim Cook. Jobs still continues on at Apple, however, as he was elected chairman of Apple's board of directors.

In a letter published on Apple's site, Jobs stated simply that he could no longer fulfill his duties as CEO. He recommended Cook as his replacement.

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

The board confirmed Jobs' chairman role and noted his contributions over the years in a released statement.

"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, in a statement issued on Wednesday afternoon. "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."

About the Author

Dave Nagel is the executive editor for 1105 Media's educational technology online publications and electronic newsletters.

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