Steve Jobs resigned today In a letter addressed to both the board of Apple and the general public. In the brief letter Jobs stated that his in-ability to meet his "duties and expectations" was a primary reason as to why he had decided to step down. He continued to recommend that Tim Cook be appointed as his successor in the role and also intimated that he would like to stay on as Company director, Chairman of the board as well as an Apple employee. The letter is printed in full below.
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
Jobs' health has come under close scrutiny in recent times. In 2004 he announced to company employees that he had been diagnosed with a rare, less aggressive, form of pancreatic cancer known as islet cell neuroendocrine tumor. During Jobs' treatment for his illness Tim Cook stepped in to cover the role as CEO of Apple until he returned later that year.
Concerns for Jobs' health resurfaced after he made keynote speeches at the Worldwide developers conference in both 2006 and 2008, although sources within Apple claimed Jobs' health was "robust" after his 2006 appearance.
In January 2009 Jobs took a 6 month leave of absence to focus on his health after he had "learned that my health-related issues are more complex than I originally thought". Jobs would go on to have a Liver transplant in April of that year, his prognosis was described as being "excellent"
Finally in January of this year it was again announced by Jobs in a letter to employees that Jobs would be temporarily leaving the company again, after being granted a medical leave of absence so that he could "focus on his health". Again Tim Cook stepped up as acting CEO during this period and cemented himself as the heir apparent to Jobs' role as Apple inc's figurehead.
This is, of course, a massive blow for Apple. The man who co-founded the company in the 1970's and became a cult like figure for Apple product fans worldwide has become as synonymous with the Apple brand as Mario is to Nintendo. Shares in Apple saw a decrease in price immediately after the announcement of Jobs' resignation which is no surprise, and i fully expect them to regain their value shortly.
Tim Cook has been duly appointed as the new CEO of Apple and Steve Jobs has been elected Chairman of the board, the best result all round for the company and everyone involved.
Jobs is still an influential member of the Apple board and has an important role in the company's future even now. Thankfully he now has some more free time to make sure he's as healthy as he can be, that's what really matters when you get down to it.
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