Apple Inc. co-founder Steve Jobs has resigned as chief executive officer of the company, he will stay on as Chairman of the Board. In a brief letter to Apple’s Board of Directors he wrote: “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 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 the letter he recommends that Tim Cook, Apple’s Chief Operating Officer, takeover as CEO of the company.
Mr. Jobs, who is 56 and a cancer survivor, has been on medical leave for an undisclosed condition since the beginning of the year. Jobs was born and raised in San Francisco, he co-founded Apple with Steve Wozniak in 1976, they designed and developed the Apple II series of PCs and later the Macintosh, a breakthrough in PC technology. He resigned from the company in 1984 following a power struggle. After leaving Apple he co-founded and was CEO of Pixar Animation Studios.
Jobs returned to Apple in 1997, and became the driving force behind the development of the iMac, iPod, iPhone and iPad, turning Apple Inc. into one of the world’s most powerful companies. This year Apple Inc. became the largest publicly traded company in the world by market capitalization, surpassing long-time rival Microsoft and briefly eclipsed oil giant Exxon.