Steve Jobs
Steve Jobs has stepped down as CEO of Apple following seven months of medical leave.
Jobs will be replaced by chief operating officer Tim Cook.
In a short letter to the board, Jobs said, "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."
While the condition behind Jobs' recent medical leave has not been disclosed, it's known that he previously had a liver transplant following pancreatic cancer.
While the news is a blow to Apple, Jobs is likely to stay on with the company in some sort of capacity. He wrote in his letter, "I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee."
While analysts have pointed out that Cook has been the de-facto CEO of Apple for some time now and that Jobs will still have some input into the company's direction, Apple shares slipped over 5% in after-hours trading.
While the departure of Jobs - who is widely credited with building Apple into the success it is today - is a blow for the company, it may serve to level the playing field. Shares in Apple's two biggest rivals in the Asian mobile market, HTC and Samsung, climbed even as Apple's were dropping.
A more level playing field in the mobile market is, of course, also a more level playing field in the mobile gaming market.
Jobs will be replaced by chief operating officer Tim Cook.
In a short letter to the board, Jobs said, "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."
While the condition behind Jobs' recent medical leave has not been disclosed, it's known that he previously had a liver transplant following pancreatic cancer.
While the news is a blow to Apple, Jobs is likely to stay on with the company in some sort of capacity. He wrote in his letter, "I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee."
While analysts have pointed out that Cook has been the de-facto CEO of Apple for some time now and that Jobs will still have some input into the company's direction, Apple shares slipped over 5% in after-hours trading.
While the departure of Jobs - who is widely credited with building Apple into the success it is today - is a blow for the company, it may serve to level the playing field. Shares in Apple's two biggest rivals in the Asian mobile market, HTC and Samsung, climbed even as Apple's were dropping.
A more level playing field in the mobile market is, of course, also a more level playing field in the mobile gaming market.
Read More Like This
Comments
Ryan550 25 Aug 2011 09:55
1/4
I wish Steve Jobs the best of luck and as much of a speedy recovery as possible, Congratulations in making Apple go from almost nothing to everything a company could possibly be (in terms of worldwide success).
The board would be completely mad if they do not offer him Chairman of the board and director.
Good luck Steve!
The board would be completely mad if they do not offer him Chairman of the board and director.
Good luck Steve!
deleted 25 Aug 2011 10:42
2/4
Yeah, many people attack Jobs, but in all reality he did bring apple back from the dead, oh and make sure every Pixar film has an Apple reference somewhere in it..
more comments below our sponsor's message
DoctorDee 25 Aug 2011 10:55
3/4
Lion is s**t. Jobs leaves. Coincidence. I don't think so. I think his seven months leave has lead to the start of a slide.
Jack W 26 Aug 2011 00:30
4/4
I just hope that guy is not shriveling away