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Steve Jobs Resigns, Tim Cook Becomes New Apple CEO

Written on August 25, 2011 by Avlya Jaie

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55-year-old Apple co-founder, Steve Jobs, resigned from his position and appointed Tim Cook as the new Apple CEO.

Co-founder and two-time CEO of , , has just stepped down from his position last Wednesday. He provided a letter to the Board of Directors, telling them that he will remain as the Chairman of the Board and would appoint as the new CEO. The board has immediately approved Jobs’ letter and made the resignation effective at once. Though bowing out from his role, Steve Jobs is still expected to contribute on Apple’s future plans.

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

Apple board member , chairman of Genentech biotech firm, delivered this message on behalf of the board of directors:

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 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.

For quite some time, Jobs has suffered from poor health standing. The former CEO asked the company for a medical leave of absence last January but then returned in March to assist the launching of iPad 2. In 2004, he was diagnosed and treated for pancreatic cancer. He also underwent liver transplant in 2009 at the Methodist University Hospital in Memphis, TN.

The newly appointed CEO Tim Cook – former COO of the company – has been with Jobs for many years. He even supported Steve in his fight against pancreatic cancer. “The Board has complete confidence that Tim is the right person to be our next CEO.” Art Levinson affirmed. “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.”

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