Steve jobs has announced his retirement from Apple, Inc.. He will remain at the company as the Chairman of the board, however, Tim Cook will take over as the CEO. Although the announcement timing may have come as a surprise to many folks, the succession plan has been questioned for the past several years and thus really is not all that big of surprise.
Steve’s Resignation Letter:
CUPERTINO, Calif.—(BUSINESS WIRE)— 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 had mad it a point to say that when he could no longer perform his job, he would resign. It appears that today was that day. And while the stock will take a hit, the company has been really run by Tim Cook for the past seven months and probably longer.