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Steve Jobs Resigns CEO Position at Apple

24 Aug, 2011 By: Chris Tribbey, Erik Gruenwedel

COO Tim Cook, who headed Apple’s Macintosh division and overall sales and operations, assumes CEO position

Apple Inc. Aug. 24 said co-founder and CEO Steve Jobs has resigned his position, effective immediately. The seminal executive, who has been battling health issues, assumes a new position as chairman of the board.

“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,” Jobs wrote in a letter to Apple’s board of directors. “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.”

Cupertino, Calif.-based Apple said long-time COO Tim Cook would assume the CEO position. Jobs submitted his resignation to the board today and strongly recommended that it implement its succession plan and name Cook as CEO, according to a statement.

“The board has complete confidence that Tim is the right person to be our next CEO,” said Art Levinson, chairman of Genentech, on behalf of the Apple board. “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.”

Levinson said Jobs’ position as chairman of the board would be invaluable going forward.

“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,” Levinson said. “In his new role as chairman, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

Jobs co-founded Apple in 1976, and came back as the company’s CEO in 1997. In 2004 he announced he was suffering from pancreatic cancer, and in 2009 he underwent a liver transplant.


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