Steve Jobs Steps down from CEO position

Discussion in 'Gadgets and Gizmos' started by Wendy, Aug 25, 2011.

  1. Wendy

    Wendy Administrator Staff Member Administrator

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    The tech community tonight experienced its own version of an earthquake.

    Steve Jobs has resigned as chief executive officer of Apple (AAPL). The company has promoted chief operating officer Tim Cook to the position of CEO and said that Cook will join the company's board of directors. Jobs will become Apple's chairman.

    Here is a copy of Jobs' resignation letter:

    There are no additional details yet on why Jobs is leaving, although the spot assumption is that it's related to the pancreatic cancer for which he received a liver transplant in 2009 (during which time Cook was in charge). The fact that Jobs is taking over as board chairman, rather than resigning that seat too, would seem to indicate that his condition isn't imminently debilitating -- but there also is a strong possibility that the chairmanship is more symbolic than operational.

    Apple shares today traded up $2.58 to close at $376.18 per share. As of 6:53pm, it already had lost $22.18 per share, or 5.9% of its value.
     
  2. josh.p.

    josh.p. New Member

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    It's a strange one.... on one hand I'm really not shocked but on the other hand I am really shocked. It will be interesting to see what happens to Apple as a company and their products!
     
  3. catrancher

    catrancher New Member

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    Thanks Steve! It's been a helluva ride! Looking forward to more to come from the kids in Cupertino! :thumbsup:

    Tom :)macwave:... fervent supporter!)
     
  4. catrancher

    catrancher New Member

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    By the way. In case you're interested, here's an interesting retrospective back to Steve's earlier days and the introduction of the Macintosh.

    [video=youtube;lSiQA6KKyJo]http://www.youtube.com/watch?v=lSiQA6KKyJo[/video]

    Tom :)macwave:... been there since then!)
     

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