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Steve Jobs Resigned from CEO of the Apple

Steve Jobs has resigned as Apple’s CEO and passed the reins to Chief Operating Officer Tim Cook. In an announcement he says ‘he could no longer fulfil the duties as a leader of the company’.

Apple Inc.

Health problems have kept Steve away from his normal day to day duties in recent years. Jobs had been diagnosed with a cancerous tumour in his pancreas in 2004. Jobs is underwent liver transplant surgery in 2009. Jobs took a medical leave of absence from apple and left the Cook as a leading role of Apple as a CEO.

In his resignation statement through letter, Jobs said: “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.

BGC financial analyst Colin Gillis says, “I will say to investors that don’t panic and remain calm, it’s a right thing to do. Steve will be chairmen and Cook is CEO”

“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.”

Jeffrey Fidacaro of the Susquehanna financial group said: “It’s a prudent move to name a successor that is Tim Cook.

Apple shares slid to $357.40 in extended trading after a brief halt. They had gained 0.7 percent to close at $376.18 on the Nasdaq.

It’s not clear that it’s a health issue or it’s a shock. The absence of Steve is permanent, and Cook’s job would seem to be as well.

Author: Akshay Aggarwal

Akshay is a Tech Enthusiast who loves to write about Technology and Gadgets. He is very passionate about blogging and has been blogging since 2009.

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