Steve Jobs resigns as Apple chief executive

Steve Jobs resigns as Apple chief executive

Summary: Steve Jobs has resigned as chief executive officer of Apple. Tim Cook will replace him, as Jobs becomes chair of the board.

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Steve Jobs has resigned from Apple as the chief-executive of the company.

Released earlier this evening, a press release from Jobs to the board of directors to the Apple community announces his leaving:

PRESS RELEASE: Letter from Steve Jobs

August 24, 2011 -- 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."

Jobs did not directly cite reasons as to his resignation, but it is suspected that he resigned today as a result of his ongoing ill health.

Jobs has been on medical leave since January this year. Tim Cook, the chief operating officer, took the place of Jobs running day-to-day operations, while Jobs would remain involved in major strategic decisions at the company.

The former chief-executive will be taking a chairman's role of the company, and will still play a part of the wider Apple strategy.

Most recently, Jobs presented WWDC 2011 in California, which announced the next-generation of Apple products. Included in the keynote was Mac OS X Lion, iOS 5 as well as its new cloud venture, iCloud.

It is expected that Cook will continue in his current position as acting chief executive -- as the succession plan dictates.

More analysis and insight will follow across ZDNet soon.

Topics: Legal, Apple, CXO, Enterprise Software

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48 comments
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  • RE: BREAKING: Steve Jobs resigns as Apple CEO

    poor guy.
    an10e
    • RE: BREAKING: Steve Jobs resigns as Apple CEO

      @an10e
      In what world is a multi-billionaire considered a "poor guy"? Save your pity for the sick people who can't afford an army of doctors and every creature comfort imgainable. Save it for the sick people who work not because they get to create cool things and be fawned over, but because they'll lose their insurance and then their home if they don't.
      rellekmr
      • RE: BREAKING: Steve Jobs resigns as Apple CEO

        @rellekmr: I bet he would exchange all his billions for good health. It's not all about money, my friend.
        kemory075
      • RE: BREAKING: Steve Jobs resigns as Apple CEO

        @kemory075 [i]I bet he would exchange all his billions for good health.[/i]

        I'm not so sure that's true. But it really doesn't matter at this point.

        [i]It's not all about money, my friend.[/i]

        No, it isn't. But some will leave this world never realizing that fact.
        Badgered
  • RE: BREAKING: Steve Jobs resigns as Apple CEO

    Holy ****! :O

    This was quite unexpected news to see, considering it was all but 7 PM on the East Coast.

    I wish him well, but Apple is going to suffer as a result.
    The one and only, Cylon Centurion
    • RE: BREAKING: Steve Jobs resigns as Apple CEO

      @Cylon Centurion I believe Steve has been preparing Apple for this very day. As any smart CEO he has laid out the groundwork and surrounded himself with people that share his vision. Tim Cook has run the day to day operations of Apple for the last 7, or 8 months. So I believe Apple wil be just fine. Steve isn?t completely leaving the company, and I am sure the people he has put in place are more than capable of extending his vision.
      Rick_Kl
    • RE: BREAKING: Steve Jobs resigns as Apple CEO

      @Cylon Centurion
      maybe worst than the first time they boot him out of apple. this time no turn-around....
      kc63092
  • God Bless Steve Jobs

    He has made a wonderful contribution to Society.
    Dietrich T. Schmitz *Your
  • Interesting.... Was bound to happen sorry to say.

    I wonder how the stock market will react?

    Pagan jim
    James Quinn
  • RE: BREAKING: Steve Jobs resigns as Apple CEO

    Down 20 and counting. Opportunity to buy. Thanks for all the fish, Steve!
    jgoode1
    • Short term down...

      @jgoode@... ...but it recovered most of what it lost by opening today. What we've got to discover now is how much change will come to Apple itself over the next year or two. Personally, I expect continued growth as Apple continues to follow Job's original roadmap.
      Vulpinemac
  • Buh-bye. (NT)

    nt
    Hallowed are the Ori
  • Nothing will change

    He hasn't had an active role at Apple for a few years. He isn't that important to Apple. Tomorrow, Apple will still get 90%+ of all the profits of all the markets it competes in (except smartphones but they'll get that one soon).

    My prediction is that absolutely nothing will change. Apple is a juggernaut today and they will continue to be so tomorrow. Jobs is just like Gates. When Gates left, MS continued (and continues) to make billions of dollars of profits. Likewise, with Jobs gone, Apple will continue to make billions of dollars of profit.

    Bye bye Jobs. We won't even notice that you are gone.
    toddybottom
    • RE: BREAKING: Steve Jobs resigns as Apple CEO

      @toddybottom
      Jobs is much more to Apple than Gates was to MS. Plus, while MS continued to make billions after Gates, they haven't seen the same type of growth. Actually their growth has been rather small compared to other tech giants.
      anono
      • No, that isn't true

        @anono <br>Jobs was nothing more than a good story to put in front of shareholders. To put Apple's success onto the shoulders of Jobs is so unfair to the thousands of people who are actually the ones responsible for Apple's fantastic products.<br><br>Jobs was a figurehead and not even a particularly good one at that. He made news because of his abrasive personality, not because of what he actually accomplished.
        toddybottom
      • RE: BREAKING: Steve Jobs resigns as Apple CEO

        @toddybottom
        We both know Steve was/is the face of Apple. Neither of us know what's Steve's internal contribution to Apple was/is so I don't see how you can just call him a figure head (unless you have insider information that you are leaking).

        I do know that Apple went from near bankruptcy without Steve to the largest tech company on the planet under Steve and from that I am going assume he was a bit more than a figure head.

        Plus why does a corporation need a figure head anyways.
        anono
      • Yes, Steve Jobs was the face of Apple

        @anono
        But I didn't buy my iPhone or my iPad or my MacBook because of a figure head who only makes the news due to his abrasive personality. He was a figure head in exactly the same way that Bill Gates was a figurehead for MS.

        Add to that the fact that Jobs himself has admitted that he has had nothing to do with Apple for a few years now. Apple's biggest growth ever came during a time that Jobs was not running the company, by his own admission.

        But hey, time will tell if I am right or I am wrong. If Steve Jobs was an integral part of Apple, expect Apple to crumble in the next few years.

        If Apple doesn't crumble then it is obvious that Steve Jobs was nothing more than a figurehead and had very little to contribute inside of Apple.
        toddybottom
      • RE: BREAKING: Steve Jobs resigns as Apple CEO

        @toddybottom
        Read my initial comment. Apple didn't become the largest tech company in the world in a few years nor will they crumble in a few years. They may never do so if they can maintain a solid management team. I didn't say Apple will immediately crumble, but I expect they will experience slower growth just like MS after Gates left. Recently their growth has been accelerating. In the June quarter of 2011, they had a 125% year over year growth in profit. Do you think without Jobs they are going to keep hitting these numbers?
        anono
      • By your own admission then, Apple's biggest growth was w/out Jobs

        @anono
        "In the June quarter of 2011, they had a 125% year over year growth in profit"

        Jobs wasn't running Apple in the June quarter of 2011.
        toddybottom
      • RE: BREAKING: Steve Jobs resigns as Apple CEO

        @anono
        As for him saying he had nothing to do with Apple in the last few years, he is a visionary. His job is to tell Apple what the next big product consumers will buy is. Sure maybe before he was doing a lot more, but the other stuff isn't nearly as important to Apple's success as was his vision.
        anono