Wednesday, August 24, 2011

Steve Jobs resigns as Apple CEO

Steve Jobs, the co-founder and CEO of tech giant Apple Inc., announced Wednesday that he is resigning immediately after years of health problems.
“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,” Mr. Jobs said in a letter released Wednesday. “Unfortunately, that day has come.” Having first disclosed a cancer diagnosis in 2004, and having clung so long to the reins of Apple, news of his resignation will have many speculating his condition has taken a turn for the worse. Jobs asked to stay on as chairman of the board and “strongly” recommended that Apple install as his replacement the current chief operating officer, Tim Cook, who led the company through Jobs’s medical leaves of absence and who was considered by many to be the logical successor. Apple agreed on Wednesday to both requests.

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