Steve Jobs Resigns as Apple CEO
In a brief statement, released after the market closed, Apple said that Jobs has resigned and will be replaced by the company's COO Tim Cook. Jobs has been elected chairman of the board, and Cook will join the Board, effective immediately.
Cook has already been handling the day-to-day running of Apple since January of this year when Jobs took medical leave. Prior to that, Jobs had to take leave for health reasons between January and June 2009. (See Jobs Takes Medical Leave From Apple and Jobs Takes Leave.)
"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," Jobs wrote in a short letter posted on the Apple site. "Unfortunately, that day has come."
Jobs is leaving the company ahead of the rumored release of the iPhone 5 smartphone, which is expected to arrive in September or October. (See The iPhone's Future Is 4G.)
— Dan Jones, Site Editor, Light Reading Mobile