Steve Jobs resigns as Apple CEO

Silicon Valley legend Steve Jobs relinquished the reins at Apple toright-hand man Tim Cook last night, after 14 years in command at acompany he brought back from the brink and turned into the world’slargest technology corporation.

Silicon Valley legend Steve Jobs relinquished the reins at Apple to right-hand man Tim Cook last night, after 14 years in command at a company he brought back from the brink and turned into the world’s largest technology corporation.

 

Jobs, who fought and survived a rare form of pancreatic cancer and revolutionized the technology arena with the iPhone in 2007, is deemed the heart and soul of a company that he himself started in a garage in the late 1970s.

 

“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,” he said in a brief letter announcing his resignation. “Unfortunately, that day has come.”

 

A college dropout, a Buddhist and a son of adoptive parents, Jobs started Apple Computer with friend Steve Wozniak. The company soon introduced the Apple 1 computer. But it was the Apple II that became a huge success and gave Apple its position as a critical player in the then-nascent PC industry, culminating in a 1980 IPO that made Jobs a multimillionaire.

 

“I will say to investors: Don’t panic and remain calm,” said analyst Colin Gillis.



Below, the text to Jobs' resignation letter, via Gizmodo:



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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