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Que the drum roll.

Yes. This is the news that Steve Jobs has resigned as CEO of Apple and has become the chairman of the board, at his own request. For those of you in the know this may not come as a big surprise given his ill-health over recent times. His departure as CEO comes at a time when Apple had seen unprecedented growth in the technology sector, especially with the iPhone and iPad innovations.

Also at his own request, Tim Cook – the former COO of Apple – has become the new CEO. Again, for those in the know, this probably won’t come as much as a surprise seeing as Tim Cook had been overseeing the day-to-day operations for Apple during Steve Jobs’ indefinite medical leave of absence[1].

Staying as the chairman of the board, this will allow Steve to continue to oversee the running of the company, without having to be at the fore-front of everything they do. Upon his departure, Steve writes:

“To the Apple Board of Directors and the Apple Community:

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.


Steve’s parting from the CEO role has seen an immediate dip in Apple’s shares[2], although this was probably to be expected. Steve leaves behind him a long trail of success, one which he clearly believes is long set to continue. You have to agree with him if the recent stories about Mac-PC sales[3] are anything to go by.

I would also personally recommend reading this article on TechCrunch by John Biggs about Jobs’ departure.

[1] TechCrunch – Steve Jobs to Take Medical Leave of Absence, Stays on as CEO
[2] The Telegraph – Steve Jobs’ Resignation Pushes Apple’s Shares Down.
[3] Forbes – July U.S. Mac Sales Up 26%, PC Sales Up 4%, Subnotebook Sales Still Falling

Image courtesy of Yalibnan