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.
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.
Steve
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!
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I first played with a Mac in 1984, and I was hooked. I’ve had one on my desk since 1985.
Thanks Steve. You’ve done an amazing job. I wish you well in your new role. Look after yourself.
Been using all things Apple since 1988.
The after hours market is doing it’s thing:
376.18 +2.58 (0.69%) Aug 24 4:00pm ET
357.10 -19.08 (-5.07%) After Hours
Open: 373.47
High: 378.96
Low: 370.60
Volume: 22,366,701
Avg Vol: 24,158,000
Mkt Cap: 348.75B
Don’t be surprised to see not many selling
Hey hedgies… Check Mate!
Steve, you have inspired me without ceasing since that spell-binding commercial during the Super Bowl in 1984. I can’t remember anything about the game itself, but I have never forgotten that compelling manifesto which proclaimed that the computer revolution is always meant to be for the people rather than the machine, for humanity rather than technique, personalizing rather than enslaving, uplifting rather than demoralizing. Steve, you changed the world. You threw the hammer. You transformed my life. Thank you.
Unfortunately, I fear that Steve will not be on this earth any more than 6 months at the most. I’d be even less. I pray I’m wrong, but he wouldn’t resign unless his health was gravely serious.
Very sad day. Steve Jobs commitment to his vision drove Apple to the amazing success it has today. Best wishes for a long and healthy life.
Steve leaving is too sad.
but 1. he’s still on board, as chair.
2. let’s not proclaim him dead. whether he left as ceo for health or family reasons is not our problem. give him peace.
3. the Wintel fans will rejoice. it’s sick. much of their tech is thanks to Steve or Apple, even if their diluted versions suck.
they will force the stock to crash – it’s the only way they’re happy as they think Apple is the Evil Empire. the only way their Wintel stocks go up again.
4. ironic. if a co. ever creates 1 life-changing product it’s a miracle. Apple with Steve created 5!! more to come!! (Mac, iMac, iPod, iPhone, iPad + real AppleTV next + Cloud the right way). Steve already produced more than any human in history. let him be.
5. do you think Apple’s stratospheric, recession-proof rise is luck?! Steve will never really leave Apple. he’s its DNA. even if no longer on Board, even if dead, his legacy is not all. he’s planned for Apple for the next 3 decades.
but fools will do their best to damage Apple.
AAPL went from $353 to $378 today.
After-hours the stock already plummeted to $352.
tomorrow it should crash.
who knows how long the stock will die,
as people do not think & pretend or wish Apple is dead too.
with logic, sense & sensibility, as well as concrete Apple plan,
the stock should rebound, but maybe in 1 month or 1 year.
may the Force be with you Steve,
bless you!
there’s too many of us grateful to you forever,
as you changed our professional + private lives,
like nada mas.
thx. gracias. merci. danke. shukran.
we look forward to your health & concepts for another round.
a plus tard
That’s it! I’m getting a Dell!
Thank you, Steve Jobs, for everything that you have done for Apple (and NeXT, Pixar, etc.). I work today because of the innovations you made possible in software and hardware.
Got to the dance a bit late but man what a party!
All the best Steve.
There’ll be none better, ever.
The greatest visionary leader of our time. He belongs at the pinnacle of the “Think Different” icons.
Wow.
Thank you Steve for being an incredible light, an endless creative source, a wonderful inspiration, a force of principle, a singular brilliant point of technology and humanity in all it’s glory.
Thank you for the show. It was a privilege watching you, championing you, rising to the top with you, making history with you.
I wish you health, joy, freedom, peace and love.
I hope that you remain with us for a long time to come.
But if you must go, I wish you the best of soul journeys.
I’ll see you in the sun. Love on.
This is such a ridiculously cool way for Steve Jobs to back off a bit.
In short: he has his management team in place, his company is the second largest in the world if market cap is your favorite unit of measure, he will continue as chairman.
Nice.
now, Apple’s glorious day is gone. without Steve, there is no Apple. the fastest growing company will be down soon. unfortunately, there is nobody who replaces by Steve Jobs. done.
I was going to flame you, but I realized it’s not fair to pick on stupid people who write things just to get a reaction. Go Away, Troll..
“What is the use of living, if it be not to strive for noble causes and to make this muddled world a better place for those who will live in it after we are gone? How else can we put ourselves in harmonious relation with the great verities and consolations of the infinite and the eternal? And I avow my faith that we are marching towards better days. Humanity will not be cast down.” ~Winston Churchill, Speech at Kinnaird Hall, Dundee, Scotland, October 10, 1908
Could easily have been a commentary about Apple’s effect on the world (80 years later). A hard job well done, Apple.
And Steve, we will always believe in the six colours.
very sad….I wonder how long he has to live? That is surely the only reason he would step down permanently. When he had to undergo cancer treatment and there was hope he took a leave of absence temporarily only…
Much love, Mr. Jobs. Thank you for changing my life for the better.
I purchased my first PowerMac when I began college in the fall of 1995. It was the 7500/100. Plagued with some early PCI and Open Transport issues, I loved that machine because it was from APPLE, not terrible CEO’s “The Diesel” or Gil Amelio, but from a company that was innovative. Fast RISC processor, built-in video editing, MacOS (7.5.1. 7.5.2, 7.5.3, 7.5.4…)Steve Jobs hadn’t been around for nearly 10 years at Apple in ’95. My point here is that I can clearly remember 16 years ago wanting an Apple product with no Steve Jobs. Even though it was a beige box, from a company that could’t meet demand, owning an Apple product was special. I never imagined the success they now have, but it is not the reason I own 5 iPods, 2 iPhones, 5 Macs, and an AppleTV. So I hope Steve is well, of course, but I remember tonight even in those dark days of the mid90’s, Apple was special. Don’t be down Apple faithful, Steve’s legacy will always be in whatever has that Apple logo on it.
The world is not fair. Balmer is a healthy fat pig.
It’s true that nobody in Apple can replace Steve Jobs. But I said this before: Steve is no dummy. He built a team with the best trades he himself have. Steve is a man of many talents. Now we have a team with people mastering each of his talents: Tim Cook, Jonathan Ive, Scott Forstall, Randy Ubillus, Phil Schiller… each of them is brilliant in what they do.
So, Apple has a team that can take care of business as a team as good as Steve Jobs. I don’t foresee dark ages in Apple. The stock… it goes up and down. I honestly don’t give a damn about the stock. I care about the products. If they continue delivering, stock eventually will rise.
Steve Jobs you have changed the world countless times over. I will miss your style and leadership, but I’m confident Apple Inc. will carry on your legacy of excellence. Thank you for everything!
It’s a bad sad week in Canada.
First Jack Layton passes away and now Steve.
Get well Steve
from Canada
Thanks and All The Best, Steve.
Long live Steve Jobs. Dear God, please let him live a while longer.
“Jobs’s greatest creation isn’t any Apple product. It is Apple itself.” Daring Fireball