With all the recent health scares of Steve Jobs, it was only matter of time before the world’s most revered CEO would have to step down.
Steve Jobs is of course the co-founder of Apple, and after being fired from Apple in the late eighties in a power struggle, returned to Apple in the late nineties, effectively saving the company from bankruptcy. A few years after Steve’s return Apple started its move towards more consumer level technology with iPod and iTunes, the superb iMac and later on the cellphone industry was completely revamped with the release of the iPhone. Steve Jobs has always had a very hands on approach in Apple, in everything from marketing to design, so his vision of the company will hopefully not dither away once he leaves. He will be replaced by Tim Cook, who has been COO until now – and has also ran the company in the recent times when Steve took time off due to illness.
Steve Jobs will however remain as chairman of the board. Find the official Apple press release below.
Tim Cook Named CEO and Jobs Elected Chairman of the Board
CUPERTINO, Calif.–(BUSINESS WIRE)–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 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.”
“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.
