Steve Jobs resigns as CEO of Apple

August 24, 2011 By Mike Dunn

Steve Jobs resigned as Apple's CEO and will become the Chairman of the Board, while Tim Cook has been named as the new CEO.

Startling news rocked Apple’s Cupertino empire today as Steve Jobs resigned as CEO of Apple. Jobs will become the Chairman of the Board, while Tim Cook will take over as Jobs’ successor, and will also be joining Apple’s board of directors. All of these changes are to take effect immediately.

Jobs is credited with making Apple the most valuable tech company in the world, and for a short time, the most valuable company overall in the world. “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,” Apple’s press release stated. “In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

Jobs’ has been on a leave of absence recently due to poor health. Apple’s press release made no mention of whether the decision was connected to health issues, but Steve Jobs’ own letter to the board of directors did mention that he was no longer able to meet his “duties and expectations as Apple’s CEO.”

Tim Cook has served as acting CEO while Jobs was out, as well as the company’s COO. Cook was in charge of apple’s operation, sales, and end-to-end supply chain.

Read the full text of Steve Jobs’ letter to Apple’s board of directors below:

Letter from Steve Jobs

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

Showing 32 comments

Chelsea Meyers at 6:13am 25th August 2011 it is not about Apple....It is a parts of a great story about an outstanding personality....
Richard Wills at 5:23am 25th August 2011 WHO CARES!
Dan Herzeleid at 5:16am 25th August 2011 Apple = fail. Never was a fan, never will be.
Terence Liu at 5:04am 25th August 2011 The innovator for Apple will be gone just like when Bill gates left MS.
Stephen J Serva Dei at 5:03am 25th August 2011 Maybe NOW we will get someone who understands that the battery life of the iPhone is INTEGRAL to the operation of the unit and has to last at the very least 16 hours...
Mohit Gupta at 3:22am 25th August 2011 Thats a real bad news.!!!
Chris Crane at 2:07am 25th August 2011 I think he knows he can't compete with Android. The apple business model is becoming outdated. Who needs apps when you have flash?
Súmît Dàs at 2:07am 25th August 2011 he was the face of apple products....................................
Robert Haston at 1:32am 25th August 2011 Lol what will all the sheep do...........
Andrew Couts at 6:31pm 24th August 2011 Everybody wants to say that nothing's changed; that Tim Cook has been running the show for a long time now, and will keep running it just the same. But we all know that's not true. Apple will remain, of course, but it will be a different Apple. It will feel different. And every time we say "Apple CEO Tim Cook," our hearts will break a little for a bygone era, one that has so thoroughly shaped the world in which we now live that even the Apple haters can't deny the influence Jobs has had on our present. What remains in question is whether Apple will have the same impact on our future.
1. Mike Dunn at 9:01pm 24th August 2011 It will be interesting to see what happens at the iPhone announcement. Will Steve be there, or will it be Tim's show? I can't imagine the reaction from the crowd if Steve walks out on stage.
Gláucia Benatti at 1:18am 25th August 2011 A visionaRy man. Success!!!!
Damon Schmitt at 12:38am 25th August 2011 I, for one, bid farewell to our former corporate overlord.
Stephanie Hampton Jean at 12:21am 25th August 2011 WOW! I think a tech tonic plate just shifted.
Rusty Shackleford at 5:19pm 24th August 2011 I don't think this will really shake up the way things are done at Apple in the short term, but it makes me wonder how Apple will fare further down the road as more and more imitators pile on. Steve kept Apple one step ahead of the curve, but I'm not sure if can continue to play the pacesetter without his guidance. When the buzz over the iPad dies down, I'm not sure Apple's going to be there with yet another game changer.
1. Dan Gaul at 5:42pm 24th August 2011 Not just one step ahead, but he was uncompromising.
Dan Gaul at 5:16pm 24th August 2011 Wow, huge news. Hopefully this isn't the beginning of the end.
Jesse Wilson at 11:58pm 24th August 2011 i think it was all the "Worst Dressed" awards that finally got to him :-/
Aaron Timm at 11:55pm 24th August 2011 Thus begins the death knell for Apple as we know it, and the change from microsoft being stockholder to being the parent corporation.
Greg Johnson at 11:55pm 24th August 2011 Steve still wants to be chairman of the board, so he's not clocking out yet. Meanwhile, if you'd bought Apple on every Jobs-related stock plunge, you'd be rich right now.
Sam Kittrel at 11:54pm 24th August 2011 more like steve quits jobs owned
Marc Blaskey at 11:53pm 24th August 2011 Shame
Matt Bolt at 11:48pm 24th August 2011 I love Jobsy! But he's either really ill or he is PISSED OFF that he doesn't have an iPhone 5!
Michael Hookano at 11:43pm 24th August 2011 this is a*
Michael Hookano at 11:43pm 24th August 2011 thismarter move I say.
Israel Tamang at 11:43pm 24th August 2011 What a run he has had and what a legacy he has left!!
Stan Twotimes at 11:43pm 24th August 2011 haha
Patrick Jaden at 11:42pm 24th August 2011 LOL you guys don't know how much of a genious Tim is...
Nick Petersen at 11:41pm 24th August 2011 BOOO
Drew Flatt at 11:41pm 24th August 2011 Apple stock taking a hit in after hour trading... They had to know this would happen... Only thing that will bring it back up is an iPhone 5 announcement... Could it be close now??
Shawn Schmalken at 11:37pm 24th August 2011 noooooo! bad!!!!
Geoffrey Shauger at 11:36pm 24th August 2011 Good news...Apple is one step closer to their second fall