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bigross86
25 Aug 11,, 00:16
Steve Jobs resigns from Apple, Cook becomes CEO (http://news.yahoo.com/steve-jobs-resigns-ceo-named-chairman-224223853.html)


By Poornima Gupta and Edwin Chan | Reuters – 13 mins ago

SAN FRANCISCO (Reuters) - Silicon Valley legend Steve Jobs on Wednesday resigned as chief executive of Apple Inc in a stunning move that ended his 14-year reign at the technology giant he co-founded in a garage.

Apple shares were suspended from trade before the announcement. They had gained 0.7 percent to close at $376.18.

The pancreatic cancer survivor and industry icon, who has been on medical leave for an undisclosed condition since January 17, will be replaced by COO and longtime heir apparent Tim Cook.

"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," he said in a brief letter announcing his resignation.

The 55-year-old CEO had briefly emerged from his medical leave in March to unveil the latest version of the iPad and later to attend a dinner hosted by President Barack Obama for technology leaders in Silicon Valley.

Jobs' often-gaunt appearance has sparked questions about his health and his ability to continue at Apple.

"I will say to investors: don't panic and remain calm, it's the right thing to do. Steve will be chairman and Cook is CEO," said BGC Financial analyst Colin Gillis.

(Reporting by Poornima Gupta and Edwin Chan; Editing by Gary Hill)

I assume longer pieces will be coming out shortly, but don't forget where you heard it first ;)

devgupt
25 Aug 11,, 00:30
Apple's Jobs resigns as CEO; Cook takes over - Business - US business - msnbc.com (http://www.msnbc.msn.com/id/44264089/ns/business-us_business/?gt1=43001)

The legendary Steve Jobs will no longer be with Apple.
It is often said that organisations are a shadow of the men who lead them.
The aura of Jobs looms large over Apple - inside the company & outside in public perception. In fact the Job- less period of Apple was worst in its history during which it nearly got closed down.How will the Apple change after his exit?
No other CEO comes close to Jobs in knowing people's pulse.
Will they continue to churn out improbable products and establish entire new business lines?It must be remembered that Job -less Apple did churn out innovative
products like Newton(PDA) which proved to be utter failure.Job's charisma and vision was the principal differentiator between Apple of 90's and noughties.

The next CEO will have very big boots to fill.

PS- Interesting trivia Steve Jobs and Steve Wozniak were the co founders of Apple. Wozniak had to give up active work after his aircraft accident. And now Jobs resigns and the primary reason being suspected is his cancer

Doktor
25 Aug 11,, 00:34
But he (Jobs) will be Chairman of the board

gunnut
25 Aug 11,, 00:58
bigross beat you by 14 min...:tongue:

Doktor
25 Aug 11,, 01:00
and got no replies :D

Julie
25 Aug 11,, 04:03
He has been fighting pancreatic cancer for awhile now from what I understand.

bigross86
25 Aug 11,, 09:26
Steve Jobs, not me... :biggrin:

dave lukins
25 Aug 11,, 10:24
He needed to leave running the company to others who are well capable of running it without him. The pressure of the job cannot be good for his recovery. He has nothing to gain from all the pressure but lots to lose health wise.

bigross86
25 Aug 11,, 10:38
I may hate Apple products with an unholy fire and passion reserved only for celestial beings, but at least Jobs knew when it was time to hang up the spurs and quit, and he deserves to be commended for that. Everyone should know when it's time to call it quits, when sticking around is doing more harm than good.

If only Yellowbelly would finally get the clue...