Steve Jobs Resigns as CEO of Apple: Tim Cook Takes Over

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Steve Jobs Resigns as Apple CEO – Image by tsevis

Steve Jobs has resigned as CEO of Apple – an act with the potential to rock the tech world, and the future of consumer electronics and personal computing. Will Apple be able to maintain the same level of quality and innovation with a new CEO? Only time will tell.

What Lies Ahead for Steve Jobs?

Steve Jobs’ resignation letter, quoted below, notes that he would like to continue his association with Apple as Chairman of the Board of Directors. Apple’s Board, of course, elected him as Chairman of the Board today, the 24th of August.

August 24, 2011

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

Who is the New Apple CEO?

Chief Operating Officer Tim Cook: Apple’s ex-COO has a stellar resume – and now he brings those strengths to the office of the CEO. Arthur Levinson, Ph.d., Chairman of Genentech, and member of Apple’s Board of Directors, praised both Jobs and Cook in a statement on behalf of Apple.

“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.”

 Will Apple Survive the Change?

The unique vision of Apple, may be difficult to maintain without Jobs as the company’s fearless leader. Apple was incorporated in the late 1970s, and survived a number of market changes, including the loss of market share to Microsoft in the early 1990s. Currently, Apple is hugely successful, catering to the needs of artists, musicians and various other media professionals, as well as just about anyone who wants a computer with a lower risk of catching a virus. With the July news that Apple has more cash than the U.S. government, despite Jobs’ resignation, it’s unlikely that the company will crash and burn anytime soon. Anything can happen, however, so all eyes will be trained on Apple in the upcoming months.

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