Update: Apple CEO Steve Jobs resigns
The surprise announcement came Wednesday afternoon
Computerworld - Apple's iconic CEO, Steve Jobs, is resigning and asked the company's board of directors to tap Chief Operating Officer Tim Cook as his replacement. The board did just that, at the same time naming Jobs chairman of the board.
The surprise announcement came Wednesday afternoon.
"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 said in a statement. "Unfortunately, that day has come."
Jobs has battled serious health issues for several years and stepped away from day-to-day duties months ago.
Here is the text of the letter he released:
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.
In a statement, Apple's board praised Jobs and expressed confidence in Cook.
"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 the 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."
After-hours trading of Apple stock was halted when Apple released the news, according to MarketWatch. The company's stock fell more than 6% when trading resumed, then pared those losses to trade down 5.2% at $356.30 per share.
Developing story. More to come.
- Apple users were left at risk by 3-week delay between OS X and iOS patches
- As iPad sales slump, Cook hijacks analysts' fast-uptake explanation
- Apple defies PC downturn again, boosts Mac sales
- Tim Cook to Microsoft: Better late than never for Office on iPad
- Apple kicks off public OS X beta testing
- Apple patches Secure Transport, but not because of Heartbleed
- Apple customers downsize iPhone, iPad storage in March quarter
- Free OS X Mavericks now powers half of all Macs
- Apple has bigger plans than just song ID with Shazam deal
- Mac Pro shortage sets record as worst Mac production debacle
Read more about IT Industry in Computerworld's IT Industry Topic Center.
- Silicon Valley's 19 Coolest Places to Work
- Is Windows 8 Development Worth the Trouble?
- 8 Books Every IT Leader Should Read This Year
- 10 Hot Hadoop Startups to Watch
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- Aberdeen Group: Marketing Analytics for Manufacturing: Forging Customer Insights There are no recalls for poor marketing. Manufacturers need to get their customer intelligence and messaging right the first time. Learn how.
- The Brave New World of Customer-Centric Manufacturing The Unique Opportunity for Manufacturers to Better Understand their Consumers
- See the Possibilities Utilizing Data Visualization Do you simply want to collect data, or do you want to derive business insights from it? What if you could quickly and...
Changing the Way Government Works: Four Technology Trends that Drive Down Costs and Increase Productivity
This paper discusses four technology-based approaches to improving processes and increasing
productivity while driving down department and agency costs.
- Top 4 Digital Signage Fails Join RMG Networks for a look at four of the most common reasons digital signage fails in corporate businesses. Learn about strategies to...
- Building Tomorrow's Infrastructure Listen to this podcast to discover how Crider Foods worked with PC Connection to update their IT infrastructure, while maintaining compliance and control. All IT Industry White Papers | Webcasts