August 24, 2011 in Business, Nation/World

Steve Jobs resigns as Apple’s CEO

Associated Press
 
Associated Press photo

Apple CEO Steve Jobs shows off the iPad in January.
(Full-size photo)(All photos)

What he said
Here’s the letter Steve Jobs released Wednesday to the Apple Board of Directors:


“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.”

SAN FRANCISCO — Apple Inc. says Steve Jobs resigning as CEO, effective immediately.

The company said today that Jobs will be replaced by Tim Cook, who was the company’s chief operating officer.

It said Jobs has been elected as Apple’s chairman.

“I believe Apple’s brightest and most innovative days are ahead of it,” Jobs said in a statement. “And I look forward to watching and contributing to its success in a new role.”

Jobs has taken several medical leaves from the company to deal with an unspecified medical issue. He has previously survived pancreatic cancer and undergone a liver transplant.

Apple earlier this month became the most valuable company in America. Its lineup of sleek phones, computers and iPods, irresistible to customers even in tough economic times, propelled it to the No. 1 position by market value, surpassing Exxon Mobil.

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