Steve Jobs makes way for Tim Cook as the new CEO

Apple Co-Founder, Steve Jobs has announced his resignation from the role of the Chief Executive Officer (CEO) at Apple Inc. It is a well known fact that the American business magnate has been suffering ill health for some time now. COO, Tim Cook is being told to have taken up Jobs' role as the CEO of Apple.

Steve Jobs resigns from Apple with immediate effect

Steve Jobs had sent a letter to Apple giving a brief explanation of why he has resigned. This is what Jobs had to say, “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.”

Apple has been in the news lately mainly for the upcoming launch of their next handset; so when a news like this surfaces, it does come as a bit of a shock. Although, this news was not totally unexpected considering Jobs has had health issues. Speaking about the former CEO’s resignation, Art Levinson, Chairman of Genentech commented on behalf of Apple's Board said, “Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the worlds most innovative and valuable technology company. 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.”

Apple has stated that Jobs had strongly recommended his succession plan and named COO, Tim Cook, as the new CEO of the Cupertino-based company. While Cook was COO, he was previously responsible for all of the company’s sales and operations. He was also the head of Apple’s Macintosh division and played a major role in the continued development of strategic reseller and supplier relationships.

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