Thursday, August 25, 2011

Steve Jobs resigns as Apple CEO

Steve Jobs, the rock, voice and CEO of Apple officially resigns (not again). Well, this time it's final. Unlike before where he just had to take a leave of absence for health concerns, this time he actually provides his resignation letter. Here it is 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.


What's going to happen to Apple? Before Jobs, Apple Inc. was not as mainstream and glorious as it is now. Steve Jobs brought Apple Inc. to where it is in the market, in people's bags, pockets, fingertips, earlobes, etc.
After the announcement, sales were halted for a bit, and when it was resumed, sales dropped at around 5%.

Apple Inc. has experienced somewhat of a resurrection from the dead when he stepped in as CEO, and established itself as "the world's most valuable tech company".

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