Steve Jobs resigns as CEO of Apple; Tim Cook named CEO, Jobs elected Chairman of the Board

Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“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, in the press release. “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.”

“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “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 submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

Steve Jobs and Tim Cook

As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Source: Apple Inc.

Steve Jobs’ letter 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.


MacDailyNews Take: The end of an astonishing era and the beginning of a new one.

Thank you, Mr. Jobs for everything you have done in an amazing, legendary career. What you have engineered will go down in history as one of the greatest success stories of all time.

Good luck to Mr. Jobs, Chairman of the Board, and to Mr. Cook, Apple Inc.’s new CEO!


Related articles:
Apple has deep bench – August 24, 2011
Apple’s deep leadership bench; COO Tim Cook in the spotlight – January 18, 2011
WSJ profiles Apple’s Chief Operating Officer Tim Cook – January 17, 2011
Apple CEO Steve Jobs takes medical leave of absence; will continue as CEO – January 17, 2011
Apple spokesman: ‘Apple CEO Steve Jobs is back on the job’ – June 29, 2009
Apple CEO Steve Jobs has ‘excellent prognosis’ after liver transplant – June 24, 2009
Former Apple Exec: Tim Cook’s been running Apple for years – January 15, 2009
When Apple CEO Steve Jobs met Tim Cook – January 15, 2009
Apple CEO Steve Jobs takes medical leave of absence until the end of June; puts Tim Cook in charge – January 14, 2009
Apple CEO Steve Jobs tells graduates not to waste time in Stanford keynote speech – June 13, 2005
Apple CEO Steve Jobs back to work full time and ‘in excellent spirits’ says Woz – October 5, 2004
CEO Steve Jobs returns to work at Apple – September 8, 2004
Apple CEO Jobs undergoes cancer surgery – August 1, 2004


    1. Can you think about it, for a minute? “when I could no longer meet my duties and expectations” he said.

      However, that’s not the point of discussion here.

      Good luck to Mr Jobs and Mr Cook on their new roles; what you all have done for tech has no equal, and I wish it never ends.

      1. “Tim Cook is no Steve Jobs.”

        Do you think for one moment that Steve Jobs would pick somebody to succeed him who isn’t up for the task?

        I laugh at your tiny, tiny brain.

        The fallout from this is that Apple’s share price will likely decrease in the short term, pundits and tech “journalists” will declare Apple dead, and would-be competitors will get cocky(only to have their asses handed to them by Cook at the next earnings report).

        And of course Steve is now chairman of the damn board, so he’s still there at Apple in a position of immense power and influence. He hasn’t even left.

        Infact, what with his health issues and multiple medical leaves, his position as CEO had been reduced pretty significantly. And yet, during that time, Apple was hitting homeruns out of the park(and Tim was reportedly running the show to quite a degree).

        I’d mourn the loss of his pioneering career, except he still has one. I’d mourn Apple, but the sun hasn’t even begun to set on it yet.

        Get bent, fool.

      2. Here’s another idiot conclusion, from “analyst” Trip Chowdhry:

        “Apple is Steve Jobs, Steve Jobs is Apple, and Steve Jobs is innovation,” Chowdhry said. “You can teach people how to be operationally efficient, you can hire consultants to tell you how to do that, but God creates innovation. … Apple without Steve Jobs is nothing.”

    1. Steve Jobs will still be an active creator & visionary force within Apple as the Chairman of the Board.

      That is what he is truly best at & will be for many years into the future. Jobs turned Apple around in the 90’s & hired high quality managers to help him run the company – again. He has been successful at that, as well as keynote presentati­ons & continuing to be a visionary force within Apple’s creative & engineerin­g staff.

      All that has changed is that he is now not in charge of running a global corporatio­n Apple Inc anymore, but is still on Apple Board & is the Chief Creative Advisor to Apple.

    2. Apple is filled with very creative people. The many products you use sprang from the minds of others besides Steve. Steve defined the degree of execution of those ideas. He will certainly be missed, but fear not there are many excellent engineers who will contain use to foment new ideas and execute them to Steve’s standards.

    3. And here is your answer… No he is not; in my opinion.

      In a more objective statement I would say we don’t know whether Tim is the visionary that Steve is; although unlikely he may be.

    4. I have confidence in the ‘Apple 2.0’ that Steve created since his return in the 90’s.

      There is much substance to Apple Inc today. For starters, it has a strong sense of purpose with equally strong supporting values. It has amassed a great talent pool. And developed an incredibly strong attitude of ‘paddling its own canoe’ with complete conviction and focus. Hence the seismic moments it has delivered to many industries and companies alike.

      It’s a cultural thing that Steve Jobs has created. Much more difficult to get right than anything else in business. And Apple will continue to prosper because of it.

  1. Steve: thanks for the great job you’ve done. I hope that you live a long, healthy and happy life. Your Macintosh and iOS have made a good career for me for the past 25 years.

    1. I Second that.
      For all the Great ways that he has made our lives Better,
      we can just wish him the best with his Health.
      By the way, he is not going Anywhere, he is the Chairman of the Board, and his 2 Cents, will always mean Something.
      He Can now spend more time with his Family.

      (Thank u Steve 4 all that u Gave the World) Thank u.

    2. I third that. Thanks for all you’ve accomplished, Steve. You’ve done amazing work, brought powerful tools to millions, and made investors like me very happy. I wish you all the best in your future endeavors, and may you have a long, healthy road ahead.

      I’m behind you, Tim. Let’s get started.


    1. Yeah I was just going to mention this.

      Apple will be fine with cook.

      But… Prepare for the “end of apple” articles tonight/coming week and the stock will tank for a bit…

    2. “Be greedy when others are fearful. And be fearful when others are greedy.”
      – Warren Buffett

      If you continue to believe in Apple, as I do and will, the ensuing short-term hysteria will present a buying opportunity. Pundits and haters will weigh in, declaring that Apple is doomed. Short sellers and hedge funds will prime the fears and seize the moment. But what will not change is the company’s growth and valuation. And that will present a buying opportunity for the astute investor in a couple of days from now.

      As for me, I’ll hold on to my shares and ride out the storm. The next 12 and more months look very promising. And eventually, a stock’s price will reflect its earnings. No news or hype will change that.

      More important, I wish Steve Jobs and his family well. I hope his health is kind to him. And I thank Steve Jobs for a life of brilliance, vision and accomplishment. His legacy will be enormous.

      Because of Steve Jobs, my life and career changed. Because of Steve Jobs, I met my wife. Because of Steve Jobs, I am in the career that I am. I owe him and those around him a lifetime of gratitude.

      This is not the end. Not by a long shot. The impact of Steve Jobs will long outlive his career and life. Few of us could ever imagine doing the same. Thank you, Steve.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.