Apple’s Steve Jobs resigns as CEO
Apologies for the lack of posts for the last 4 days, but I’ve been struck down by what seems to be a killer flu which had practically rendered me bed ridden. However, not even a killer flu could keep me down when news first broke out of Cupertino about Steve Jobs and Apple and now it’s been officially confirmed.
In a letter to Apple’s Board of Directors as well as the general public, Steve Jobs announced that he would be stepping down from his position as CEO of Apple, a post he had held for the better part of the last decade. In his letter, Jobs stated that he is stepping down due to his inability to fulfill the duties and expectations required for the position, and the most likely reasoning for that is health problems which have kept him from announcing Apple products once or twice. The market didn’t take too kindly to this decision (will good reason) as Apple’s stock dropped nearly 20 points.
Steve Jobs Letter:
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.
Shortly following this letter, Apple announced that Tim Cook has been officially named the company’s new CEO as per Steve Jobs recommendation and he himself has been elected Chairman of the Board.
It’s certainly a sad day as Steve Jobs is truly a man who changed the very foundations of the technology as we see it today. He was an innovator, and under his leadership he transformed Apple from has-been to the worlds biggest and most valuable company, something very little people can do. For those of you who think that this is the end of Apple, just because they’ve lost Steve Jobs, should realise that Apple isn’t just a one man company. It takes a collective group to create and design a product as innovative as the iPhone and it remains to be see how well Tim Cook will lead the company now.
If anything though, we think Steve Jobs has been grooming Tim Cook for some time now so we’ll be excited to see how he does at his first official product launch next month with the iPhone 5. Still Steve, it’s sad to see you go and we’ll certainly miss you.