Every now and then we are reminded that all good things must come to an end and we must move on. I hope Apple can and maybe they already have.
Steve Jobs Resigns as Apple CEO
After several years of failing health and medical leaves of absence, Steve Jobs today announced, "I hereby resign as CEO of Apple."
"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 in his letter of resignation "to the Apple board of directors and the Apple community." "Unfortunately, that day has come.
"I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee," Jobs added. "As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple."
In a separate release, Apple noted that Cook was, in fact, named CEO, Jobs was elected chairman of the board and Cook was added to the company's board.
"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."
Since 2004, Jobs has battled pancreatic cancer, had a liver transplant and taken multiple leaves of absence from Apple, though he, himself, has released few details of his health struggles.