Steve Jobs Resigns As Apple CEO

Steve Jobs, 56, a veritable legend in the IT business who has battled serious health problems for several years, announced late yesterday that he is stepping down as Apple’s CEO.

Jobs said in a letter to the Apple’s board of directors that he would like to remain with the company, he co-founded with Steve Wozniak, as chairman of the board and as “an Apple employee”. The board of directors have agreed to his requests.

Tim Cook Takes Over As Apple CEO

In the letter, Jobs urged the board to name COO Tim Cook as the company’s new CEO. Cook had served as interim CEO each time Jobs (pictured) took leaves of absence from his duties to fight pancreatic cancer. The Apple co-founder has been on medical leave since January 17.

After accepting Job’s resignation, the Apple subsequently announced that Cook has been elected CEO.

Here is the text of the letter that Jobs wrote to the board and Apple employees:

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