HBL News: Steve Jobs resigns as CEO of Apple

Thursday, 25 August 2011

Today, Apple’s board of directors announced that Steve Jobs has resigned as Chief Executive Officer. The board also named Tim Cook as the new CEO. Jobs has been elected Chairman of the Board and Cook, previously Apple’s Chief Operating Officer, will join the Board immediately.

“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.” explained Jobs in his resignation letter to the board.

Jobs strongly recommended that the Board execute its succession plan and name Tim Cook as CEO; after submitting his resignation today.

“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.” said Art Levinson, Chairman of Genentech, on behalf of Apple's Board.

Levinson continues: “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.”