Steve Jobs resigns as Apple's CEO, named Chairman
Steve Jobs has resigned his post as CEO at Apple Inc.
Tim Cook, Apple's chief operating officer who has been filling in for Jobs since the company co-founder took his second medical leave in January, will take over as chief executive of the Cupertino tech giant.
Jobs, 56, has been named chairman of Apple's board of directors and Cook is joining Apple's board, too.
Two years ago, Jobs, who has also previously battled pancreatic cancer, took his second medically related leave of absence, which lasted six months as he underwent a liver transplant. His first medical leave took place in 2004.
Here's the official word from Apple via BusinessWire:
Apple's Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple's Chief Operating Officer, as the company's new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.
"Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company," said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. "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."
"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."
Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.
As COO, Cook was previously responsible for all of the company's worldwide sales and operations, including end-to-end management of Apple's supply chain, sales activities, and service and support in all markets and countries. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.
-- Nathan Olivarez-Giles
Photo: Apple CEO Steve Jobs speaks during an Apple Special event to unveil the new iPad 2 at the Yerba Buena Center for the Arts on March 2, 2011 in San Francisco, California. It's been reported that Steve Jobs has resigned as the CEO of Apple August 24, 2011. (Photo by Justin Sullivan/Getty Images)