STEVE JOBS RESIGNS AS CEO OF APPLE

Terrible and sad news from Apple this afternoon:

CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

Here's Steve's letter to the board and community:

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.

Steve

There seems to be some frustration and confusion about why Steve didn't specify exactly why he was leaving. Unfortunately, we think he did specify it. See the first paragraph of his letter above.

This is tragic news, not just for Apple and the Apple community but for Silicon Valley and the country.

We wish Steve Jobs and his family all the best.

Steve Jobs Resigns As CEO Of Apple

Title says it all. More to come. For now, the letter from Steve Jobs himself:

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.

Steve

Update: Apple has confirmed that Apple COO Tim Cook will replace Jobs as CEO, following Jobs’ own recommendation. Considering that Cook has filled in for Jobs in the times of his medical leaves (including the one he has been on this year), this has been widely expected if and when it came time for Jobs to step down.

Also as requested, Jobs has been elected as Chairman of the Board and will remain with the company in that capacity. Cook will join the Board as well.

Steve Jobs Resigns as CEO of Apple - why Steve Jobs Resigned Real Story

Tim Cook Named CEO and Jobs Elected Chairman of the Board 

CUPERTINO, California—August 24, 2011—Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”

“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.” 

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.

That’s Why Steve Jobs Chose the Perfect Time to Resign

“Steve Jobs resigned from Apple’s CEO.” These are the titles that you can read in these hours on the net. Steve Jobs resigns for reasons not yet formalized, but probably the perfect time to leave the role of CEO to his successor. Why?

An article recently published by Gizmodo analyzes the current state of Apple, calling it perfect for a handover.

Apple has never been stronger than now, the data record presented for last quarter. In about a month you get the new iPhone, which will unleash a wave of novelty, freshness and earnings within the company, which will market the device with the three major U.S. carriers. It is also likely the arrival of a completely new product, a low-cost terminal that meets the need of the masses and not just those that have 600/800€ to spend on a smartphone.

Resign in a few weeks would have wrapped up the launch of the iPhone 5 in memories of Jobs, and the company would not have been positive. Jobs resigning left hours of time to his successor, where Tim Cook must take to be alone and prepare for the launch of the new device, without the heavy shadow of the now ex-CEO.

In addition, the separation will be sweeter because Tim Cook will launch the product that carry within them the essence of Steve Jobs. It is undeniable that the iPhone 5 is designed for months now, with Jobs in command, and the seeds for the upcoming iPad 3 or for new Mac have been planted by Apple co-founder.

The company will continue to have his leadership because, despite the resignation, Jobs will remain in Apple to bring even his creativity and his inspirations, discuss global strategies and taking the company to a new balance.

Hoping that the causes of the resignation are not strictly related to the disease that haunts him for years, the change of leadership was to come sooner or later. It served, however, a golden moment for the company, with many projects already developed, and many many more still in pipeline.