End of an Era: Steve Jobs Resigns as Apple CEO
The man who rebuilt Apple and put the company on top of the tech world is no longer the CEO. Steve Jobs has resigned and former COO Tim Cook will take over as chief executive officer. According to a letter sent to the board, it seems Jobs' deteriorating health prevented the visionary from leading the company on a day-to-day basis:
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.
This is indeed sad news, but Jobs will continue to play a significant role at Apple as chairman of the board. Jobs is credited with transforming the technology landscape with three game-changing products during his tenure: the iPod, iPhone, and most recently the iPad. In addition, Jobs helped propel Macs to the No. 3 position in the U.S. The company's momentum has been so strong that HP discontinued its TouchPad tablet and is looking to potentially spin off its PC business.
Now its up to Tim Cook to continue that momentum.
“The Board has complete confidence that Tim is the right person to be our next CEO,” said Art Levinson, Chairman of Genentech, on behalf of Apple's Board in a prepared statement. “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.”
Levinson went on to say that Jobs "will continue to serve Apple with his unique insights, creativity and inspiration” but Cook will be the one charged with making sure the iPhone 5, iPad 3, iCloud and other future products are hits with consumers.
Cook certainly has the right pedigree and experience to keep Apple on a roll. As COO, he was responsible for all of the company’s worldwide sales and operations. He also headed Apple’s Macintosh division. Nevertheless, Cook has huge shoes to fill.
Here's Steve Jobs letter in full:
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.