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Steve Jobs resigns as Apple’s CEO

Wed., Aug. 24, 2011, 3:45 p.m.

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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