Apple CEO Steve Jobs resigns, turns chair

Apple CEO and co-founder Steve Jobs has resigned as chief executive officer of Apple. His place at the top of the company will be taken by Tim Cook, previously Apple's chief operating officer.

Apple CEO and co-founder Steve Jobs has resigned as chief executive officer of Apple. His place at the top of the company will be taken by Tim Cook, previously Apple's chief operating officer.

Steve Jobs (Credit: Josh Lowensohn/CNET)

Jobs has been dogged by a string of health problems in recent years, which forced him to take periodic leaves of absence from the company. Jobs announced in January that he was taking indefinite medical leave from Apple — his third in recent years — and handing over day-to-day responsibility to Cook.

Jobs has been elected as chairman of the Board, which Cook will also join.

"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," Art Levinson, chairman of Genentech, said in a statement on behalf of Apple's board.

It was Job's vision that guided Apple to become the world's most valuable technology company, Levinson continued.

The board was confident that Cook was the right choice to follow Jobs as CEO, with Jobs having recommended the executive for the role.

"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."

Cook has been responsible for the company's global sales and operations as its COO. He has also headed Apple's Mac division.

Via CNET

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