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Posted at 07:25 PM ET, 08/24/2011

Steve Jobs resigns as Apple’s CEO


Steve Jobs, then-chief executive officer of Apple Inc., unveils the iCloud storage system at the Apple Worldwide Developers Conference 2011. (David Paul Morris - BLOOMBERG)

Apple’s Steve Jobs has made it official. He’s resigning as Apple’s CEO. The news broke on Wednesday night, with the release of a statement from Jobs.

Jobs wrote the following letter, which was posted on the Apple Web site:

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

Apple’s board elected Tim Cook, previously Apple’s chief operating officer as CEO. Jobs will serve as chairman of Apple’s board, according to a press release issued by the company. The release went on to read:

“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. “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.”
“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”

If you’re a frequent follower of Mac, you know Jobs has turned the introduction of new products into a world-class event. Watch Steve Jobs introduce the first Macintosh:

— What do you think Jobs's departure as CEO means for Apple's future? Will it help or hurt? We're following your feedback on #goodbyeJobs

Here is some of the feedback we’ve seen so far regarding Jobs’ departure from his post as CEO.

CEOs are easy to find. Visionaries are r born once in a lifetime. Steve Jobs was d latter. #goodbyeJobsless than a minute ago via Twitter for BlackBerry® Favorite Retweet Reply

Tech geeks now have to find a new fashion trend-setter. Black turtlenecks are totally out. Effective immediately. #goodbyeJobs #appleless than a minute ago via Twitter for BlackBerry® Favorite Retweet Reply

it means their stock will be down. @washingtonpost: What will Steve Jobs's departure as CEO mean for #Apple's future? #goodbyeJobsless than a minute ago via Twitter for iPhone Favorite Retweet Reply

Apple. Google/Motorola. HP. This is the craziest ever time in the world of tech. #goodbyejobsless than a minute ago via Twidroyd for Android Favorite Retweet Reply

Read more in Innovations:

Steve Jobs steps down as Apple’s CEO, becomes board chairman

ComPost | Steve Jobs steps down as Apple’s CEO

Titans of the technology industry

Apple hits and misses

The career of Steve Jobs

By  |  07:25 PM ET, 08/24/2011

Categories:  Business, Technology

 
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