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Steve Jobs Resigns as CEO of Apple

http://techcrunch.com/2011/08/24/st...gns-from-apple/

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

I hope he will survive

What's the stock at? Someone check quick please.


And yes we need him to survive. I fear for the tech industry if he passes.

Apple stocks are going to tumble in the morning.

Apple stocks are down 5% in the after-hours trading.

They do go in threes...

Hope he does okay health wise...

Apple sure as hell won't be the same without him. Last time he quit, it was almost the end of the company...

quote:

Originally posted by Sasha I hope he will survive

Survive what? Is he in bad health?

quote:

Originally posted by Fin.K.L Survive what? Is he in bad health?

yes

Apparently he was supposed to die a long time ago. But he has survived this which is about 1.5 years over the doctors predictions. Crazy.

He had pancreatic cancer... had a donor placed in him last year i believe.

Steve Jobs resigns as CEO of Apple, Tim Cook takes his place




Apple co-founder Steve Jobs announced on Wednesday that he is no longer fit to serve as the company's chief executive officer, officially resigning from the position, which has been be filled by Chief Operating Officer Tim Cook.

The announcement came Wednesday evening in a press release directed at the Apple Board of Directors, as well as the company's community. Jobs said he would like to stay on as Chairman of the Board, director and Apple employee, a wish that was granted by 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," said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. "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."

He also recommended that Cook, who has fulfilled Jobs' duties as CEO during his medical leave, take over as the chief executive. The board also agreed with Jobs' assessment, and Cook is now CEO.

"The board has complete confidence that Tim is the right person to be our next CEO," Levinson said. "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."

Jobs' resignation was submitted to the Apple Board of Directors Wednesday. His role on the board, as well as Cook's election to the board, are both effective immediately.

Jobs has long maintained that his health is a private matter. His public letter issued on Wednesday made no mention of his current medical condition. Jobs had been on medical leave since January, and has had a long bout with cancer.





Jobs' full letter is included 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.

(Take care Steve Jobs)

quote:

Originally posted by Dior Homme he has survived this which is about 1.5 years over the doctors predictions. Crazy.

talk about dedication....

Can't believe he was still working despite his condition...I totally would have left my job to travel/be with friends and family if I was given such a grim diagnosis....

ps. think i'll be keeping my blackberry....

Mossberg: Jobs intends to be involved in developing major future products and strategy, will stay active




In case you thought otherwise, the Wall St. Journal�s Walt Mossberg says that Steve Jobs� role at Apple will remain unchanged:


Extremely well-informed sources at Apple say he intends to remain involved in developing major future products and strategy and intends to be an active chairman of the board, even while new CEO Tim Cook runs the company day to day.

Jobs has essentially been doing this since he went on medical leave in January.

All of you who think Apple is suddenly going to flounder are delusional. Sure, losing Steve is a huge ordeal, but if any of you have any sense of how a company as successful as Apple operates, you would know that Steve did not accomplish it on his own. In fact, it was Tim Cook who laid out the plan for Apple's retail stores, which is one of Apple's biggest moves to date.

Sure, Steve's vision will surely be missed, but his legacy, pursuit of perfection are permanently ingrained within Apple's core senior team. They know what got them here, and they know what they need to do to keep innovating and dominating the market.

If anything, this will probably inspire and motivate them even more.

Even though Steve Jobs resigned his CEO position to Tim Cooks, he's new position is the chairman of Apple. All the massive decisions for future projects, products and services, he still makes the final calls. Nothing will change at Apple for the next little while.

We won't see any impact nor differences with Apple until five years later of Steve Job's passing. Currently the iPhone 5, iPhone 6 prototype, iPad 3, iPad 4 prototype and future Macs, still have a lot of Steve Job's essences and elements in them.

Checkout Apple stocks right now, only minor fractional of a drop.

AAPL shares are trading at a_relatively_small loss of anywhere from 1.5-2.5% from yesterday�s close against a slightly up broader market. _Overnight, shares had been down 5-6% in after hours trading on the news that Steve Jobs would be leaving his CEO role and taking the Chairman role. _This morning Apple opened at 365 and at the time of this writing, Apple is heading towards yesterday�s close, at 370.

I think the truth is that Jobs resignation from the CEO role, while shocking in the short term, had been baked into the share price for a long time now.

It's a little easier to leave just a regular job when you're sick but Apple is his baby...

He built that company up from scratch.

quote:

Originally posted by spiderpig All of you who think Apple is suddenly going to flounder are delusional. Sure, losing Steve is a huge ordeal, but if any of you have any sense of how a company as successful as Apple operates, you would know that Steve did not accomplish it on his own. In fact, it was Tim Cook who laid out the plan for Apple's retail stores, which is one of Apple's biggest moves to date. Sure, Steve's vision will surely be missed, but his legacy, pursuit of perfection are permanently ingrained within Apple's core senior team. They know what got them here, and they know what they need to do to keep innovating and dominating the market. If anything, this will probably inspire and motivate them even more.

As a longtime shareholder, I hope everyone else feels this way too. I know I do

quote:

Originally posted by Dior Homme What's the stock at? Someone check quick please. And yes we need him to survive. I fear for the tech industry if he passes.

are you on crack? the tech industry will be fine. apple and apple fanboys are a different story though...

quote:

Originally posted by 1dawoman ps. think i'll be keeping my blackberry....

lol...yeah you're right, RIM is the safer bet! They're doing just great!

quote:

Originally posted by cammaxwell lol...yeah you're right, RIM is the safer bet! They're doing just great!

C

quote:

Originally posted by infinity HiGH are you on crack? the tech industry will be fine. apple and apple fanboys are a different story though...

He keeps the industry on their toes and his vision is nothing like others currently have. Yes the tech industry will survive but he has helped shaped it to what is is today. And for someone to pass with that kind of impact will obviously have some sort of affect.

quote:

Originally posted by infinity HiGH are you on crack? the tech industry will be fine. apple and apple fanboys are a different story though...

I'll be just fine thanks.

Without Steve Jobs and Apple, there wouldn't be the iPhone nor the iPad. Without those devices, Android wouldn't be born and all those "clones" wouldn't be around.

The true meaning of naive.

The text was meant to read, "I reign as CEO of Apple."

Damn you autocorrect!

I didn't know Tim Cook was a 'mo...

I guess the design side will be kept up. Lol...

Apple's design wouldn't breath taking if it wasn't for Jonthan Ive, Senior Vice President of Industrial Design at Apple.

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