Steve Jobs resigns as Apple CEO

Steve Jobs resigns as Apple CEO

Updated: Aug 25, 2011 09:16 AM EDT
© Apple Inc. (The Apple Store on 5th Avenue in New York City) © Apple Inc. (The Apple Store on 5th Avenue in New York City)

By Lisa Spodak
Provided by WorldNow

Apple's Board of Directors today announced that Steve Jobs has resigned as CEO.  Jobs co-founded the company in 1976.

In his resignation letter, Jobs wrote: "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."

"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."

Jobs has been elected Chairman of the Board and the Board has named Tim Cook, previously Apple's Chief Operating Officer, as the company's new CEO.  Jobs had strongly recommended that move, as detailed in the company's succession plan, in his resignation letter.

As COO, Cook was previously responsible for all of the company's worldwide sales and operations, including end-to-end management of Apple's supply chain, sales activities, and service and support in all markets and countries. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships.

*DISCLAIMER*: The information contained in or provided through this site section is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional advice. Use of this site section and any information contained on or provided through this site section is at your own risk and any information contained on or provided through this site section is provided on an "as is" basis without any representations or warranties.
INFORMATIONAL DISCLAIMER The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.
Powered by Frankly
All content © Copyright 2000 - 2019 WNCONTENT. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.