Steve Jobs steps down as CEO of Apple

By
Elijah Rotholtz
– August 24, 2011Posted in: Technology

It has been confirmed by a letter on Apple’s website that Steve Jobs, CEO of Apple Inc, is stepping down from his title. The board has been encouraged to name Tim Cook as the new CEO of Apple. Steve Jobs hopes to remain Chairman of the Board, as well as an Apple employee; however, he is relinquishing his CEOship.

The announcement was of course made after closing hours of the stock-market, so no effect in market has been made; however, considering Steve’s role and general awesomeness, I don’t doubt that Apple stock will take some sort of dip as a result.

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

 

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