As of this evening, Steve Jobs has resigned his post as CEO of Apple, naming Tim Cook as his successor. This news follows an extended health-related leave of absence that began this past January. Jobs will stay on at Apple as Chairman of the Board.

In a press release, Jobs cited his inability to "meet [his] duties and expectations as Apple's CEO" as the reason for his resignation, but didn't go into any further detail.

As for Tim Cook, he's been running the show since Jobs took his leave of absence, and so the transition should be relatively smooth. Time will tell whether Jobs' final departure will effect the company's long-term health and growth as investors have sometimes feared that it would.

Source: Reuters

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  • cfaalm - Thursday, August 25, 2011 - link

    I agree totally. I'm not an Apple fan either and like a joke at their expense form time to time. But let's preserve good taste here.

    Just remember where Apple came from just before they hired him back. You can't deny the man's talent for business. I don't see Steve Ballmer taking MS anywhere right now, though he might have his break with W8 and Mango later still.

    Maybe, just maybe, Tim Cook will sail a different course than Steve (after a while) concerning their practices. If not we'll see an obvious nickname here soon ;-)
  • highlnder69 - Thursday, August 25, 2011 - link

    Maybe now that Steve isn't running the company anymore they will try to run a legitimate business. I for one will not miss him and think that he is nothing but a money sucking thief. Their highly acclaimed OS is nothing but customized linux code. At least Microsoft has the ability to write their own OS.

    Just not sure why he is still so ill.. Can't he pull some of the magic out of his so called 'Magical' devices to cure himself?

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