Steve Jobs Resigns as Apple CEO, Will Stay On As Chairman, Tim Cook New CEO

sjobs
Steve Jobs has resigned as CEO of Apple in a letter to Apple's Board of Directors. In his letter, Steve asks to remain Chairman of the Board and appoints Tim Cook as his successor. The board has approved these requests, effective immediately. Jobs will still be "active" at Apple and is expected to continue to be involved with company strategy.

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

Art Levinson, chairman of Genentech and an Apple board member for more than 10 years, issued this statement on behalf of the board:

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.

Jobs was diagnosed and treated for pancreatic cancer in 2004. He's taken three separate leaves of absence for medical reasons during and since that time. In 2009, Jobs had a liver transplant at Methodist University Hospital in Memphis, TN. He has been away from his day-to-day duties since January of this year.

Regarding Tim Cook's appointment as CEO, Levinson wrote:

The Board has complete confidence that Tim is the right person to be our next CEO. 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.

Apple's stock was paused in after-hours trading at 4:19PM for approximately 35 minutes. The final trade was at $375.56. When trading resumed at 4:55, Apple's stock was down more than 5% to $351.

Our Additional Coverage:

Jobs to Remain Closely Involved in Apple's Product Strategy
Tim Cook's Auburn University Commencement Speech
Steve Jobs to Remain on Disney Board
"Jobs's greatest creation isn’t any Apple product. It is Apple itself."
Steve Jobs' Outlook on Apple After Returning in 1997
Steve Jobs' Resignation Not Indicative of Sudden Worsening of Health

Top Rated Comments

mefck Avatar
134 months ago

Steve Jobs has resigned as CEO of Apple.


Article Link: Steve Jobs Resigns as Apple CEO (https://www.macrumors.com/2011/08/24/steve-jobs-resigns-as-apple-ceo/)
I hope his health is not failing him. :(
Score: 86 Votes (Like | Disagree)
iStrat Avatar
134 months ago
Wow...
Score: 67 Votes (Like | Disagree)
chillgoose Avatar
134 months ago
All the best Steve. I hope you are in good health and will continue to help grow the company you founded. Apple would not be where it is today without you. Thank you.
Score: 63 Votes (Like | Disagree)
macduke Avatar
134 months ago
Noooooooooo!!
Score: 43 Votes (Like | Disagree)
Justinf79 Avatar
134 months ago
Well Mr. Jobs, you did a great job leading Apple into the 21st century. (biggest comeback in corporate history)
Score: 39 Votes (Like | Disagree)
.Boston Avatar
134 months ago
:(
Score: 36 Votes (Like | Disagree)

Popular Stories

airtag in hand

Apple AirTag Linked to Increasing Number of Car Thefts, Canadian Police Report

Friday December 3, 2021 7:10 am PST by
Apple's AirTags are being used in an increasing number of targeted car thefts in Canada, according to local police. Outlined in a news release from York Regional Police, investigators have identified a new method being used by thieves to track down and steal high-end vehicles that takes advantage of the AirTag's location tracking capabilities. While the method of stealing the cars is largely ...
apple top apps games 2020

Apple Reveals the Most Downloaded iOS Apps and Games of 2021

Thursday December 2, 2021 12:05 am PST by
Along with naming its editorial picks for the top apps and games of 2021, Apple today shared charts for the most downloaded free and paid apps and games in the United States across 2021. The number one most downloaded free iPhone app was TikTok, followed by YouTube, Instagram, Snapchat, and Facebook. The top paid iPhone apps included Procreate Pocket, HotSchedules, The Wonder Weeks, and Touch...
m3 feature black

Macs With 'M3' Chips Expected to Use TSMC's 3nm Chip Technology With Test Production Reportedly Underway

Thursday December 2, 2021 7:36 am PST by
Apple's chipmaking partner TSMC has kicked off pilot production of chips built on its 3nm process, known as N3, according to Taiwanese supply chain publication DigiTimes. The report, citing unnamed industry sources, claims that TSMC will move the process to volume production by the fourth quarter of 2022 and start shipping 3nm chips to customers like Apple and Intel in the first quarter of...
telsa cyberwhistle

Elon Musk Urges Customers to Buy 'Tesla Cyberwhistle' Instead of Apple Polishing Cloth

Wednesday December 1, 2021 4:01 am PST by
Tesla CEO Elon Musk has encouraged customers to buy the "Cyberwhistle" for $50 instead of Apple's much-discussed Polishing Cloth. The product page, which Musk shared on Twitter on Tuesday evening, offers a limited edition stainless steel whistle with the same distinctive design of the Tesla Cybertruck:Inspired by Cybertruck, the limited-edition Cyberwhistle is a premium collectible made from ...
app store awards 2021

Apple Picks the 2021 App Store Award Winners, Highlighting the Best Apps of the Year

Thursday December 2, 2021 12:01 am PST by
Apple today shared its 2021 App Store Award winners, highlighting the 15 best apps and games selected by Apple's global App Store editorial team. The top apps were chosen for their quality, innovative technology, creative design, and positive cultural impact. "The developers who won App Store Awards in 2021 harnessed their own drive and vision to deliver the best apps and games of the year --...
MBA Mock White Front Blue

2022 MacBook Air Getting Major Display Upgrade With One Drawback

Friday December 3, 2021 3:01 am PST by
Apple's next-generation MacBook Air is reportedly set to bring over many of the new MacBook Pro's features, with one noticeable omission, according to recent reports. The latest MacBook Pro models feature a mini-LED "Liquid Retina XDR" display with deep blacks and support for up to 1,600 nits peak brightness. The display also features Apple's "ProMotion" technology, which is capable of...