BREAKING: Steve Jobs Resigns As CEO Of Apple

Holy shit, we have just all been alerted that Steve Jobs has just resigned as CEO of Apple, Inc. The positiion will be given to Tim Cook, as expected. I never thought that this day would come so soon.

Steve Jobs has brought the most advanced and “magical” devices to millions of people and has brought Apple back from the brink of death in the 90s wih the Mac, iPod, iPhone, and the iPad.

This comes as a shock to the entire tech industry. Expect tomorrow to be a bad day for Apple’s stock.

Steve Jobs has taken the role as Chairman of Apple’s Board of Directors.

Apple has officially released a press release:

Tim Cook Named CEO and Jobs Elected Chairman of the Board

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company”

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple’s Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices

Steve Jobs has released a letter to the Apple community & Press.

More info as it comes in…

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Comments

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      class="comment byuser comment-author-appletimemac bypostauthor odd alt depth-2" id="comment-52956">

      says

      hahaha, Apple has enought cash to sustain itself (without doing any budget cuts or firing) and without even making a dime on any products could run for the next 8 years.

      They’ll be fine.

      I do hope we see Steve at the Fall iPhone 5 keynote, would be nice to see him still do the keynotes.

      Thumb up 0 Thumb down 0

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