The big news out of Apple today is that Steve Jobs has resigned as CEO of Apple Inc, to take on a new role as chairman of Apple.
In recently years health concerns have plagued the CEO and co-founder however the short letter announcing Jobs resignation has not
indicated if his health problems have finally forced him to quit, the letter simply states “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,”
Jobs current deputy Tim Cook will now take over as CEO of Apple inc that this month became Americas most valuable.
While it’s unlikely that his departure as CEO will derail Apple’s ambitious product-launch roadmap in the near term, there are concerns
about whether the company would stay a creative force to be reckoned with beyond the next year or so without its founder and visionary at the helm.
That is why Apple’s stock dropped as much as 7 percent in after-hours trading when Jobs’ departure was announced.
In the company statement, Apple co-lead director Art Levinson on behalf of the board praised Jobs’ “extraordinary vision and
leadership” and “countless contributions to Apple’s success”, saying he would continue to serve the company with “unique insights,
creativity and inspiration.”
Jobs who had been on medical leave since Apple since 17 January briefly made an appearance for the launch of the iPad 2 back in March and also attended
a dinner hosted by President Barack Obama for technology leaders in Silicon
Eric Schmidt, a friend of Jobs for years before the Internet search giant’s move into mobile software and devices strained their relationship, wrote a
moving testament to the legacy of his erstwhile business partner, echoing the responses of many of his fellow Silicon Valley executives on Wednesday.
“Steve Jobs is the most successful CEO in the U.S. of the last 25 years, “he said. “He uniquely combined an artist’s touch and an engineer’s vision to build an
extraordinary company… One of the greatest American leaders in history.”