Steve Jobs has resigned as chief executive officer of Apple, Inc.,
for the second time since he co-founded the company in 1976.
He has been elected chairman of Apple's Board of Directors,
effective immediately. Jobs is also a member of the board of
directors of Pixar, where he was CEO for ten years prior to
Disney's acquisition of the company in 2006.
Tim Cook, formerly Apple's chief operating officer, has been
appointed CEO by Apple's board.
Jobs has published a valedictory letter that only alludes to the
health issues that appear to have motivated his decision to step
down.
"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," Jobs wrote. "Unfortunately, that day
has come."
Apple did not immediately respond to a request to confirm that
Jobs' health motivated his decision.
In 2004, Jobs underwent an operation to treat a rare form of
pancreatic cancer. Though the operation was regarded a success,
Jobs has continued to confront health issues in the years since
then. He took a six-month leave of absence in January, 2009, and
was granted another leave of absence this year.
Speaking on behalf of Apple's board, Art Levinson, chairman of
Genentech, lauded Jobs's accomplishments and leadership. "Steve's
extraordinary vision and leadership saved Apple and guided it to
its position as the world’s most innovative and valuable
technology company," he said in a statement.
Jobs first resigned from Apple in 1984 following a boardroom power
struggle and went on to found Next Computer. Apple acquired Next in
1996, bringing Jobs back to the company. Jobs took over as CEO the
following year and began laying the groundwork for Apple's
transformation into one of the most respected and successful
companies in the world.
Across the Internet, fans and competitors expressed sadness at
the presumed state of Jobs' health and admiration for his
accomplishments. Investors expressed their concern by selling Apple
stock, sending it down sharply in after-hours trading.
Source: InformationWeek
USA