Steve Jobs resigns as CEO of Apple

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Steve Jobs resigns as CEO of Apple

Postby Edward » Wed 24 Aug, 2011 6:57 pm

http://www.apple.com/pr/library/2011/08 ... Apple.html

Text of press release follows:

Steve Jobs Resigns as CEO of Apple
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.
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Re: Steve Jobs resigns as CEO of Apple

Postby James » Wed 24 Aug, 2011 9:07 pm

I wonder what this will do to the price of Apple stock?
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Re: Steve Jobs resigns as CEO of Apple

Postby Antony » Wed 24 Aug, 2011 9:12 pm

James wrote:I wonder what this will do to the price of Apple stock?

quick guess: down (short term at least)
newspaper confirms down.
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Re: Steve Jobs resigns as CEO of Apple

Postby Don_HH2K » Wed 24 Aug, 2011 9:59 pm

My real wonder is whether or not Apple will be able to maintain its cult following without Steve Jobs - his marketing and presentation was half of it, I always liked to think.
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Re: Steve Jobs resigns as CEO of Apple

Postby Antony » Wed 24 Aug, 2011 11:59 pm

The world's biggest software company Microsoft performed pretty well when Bill Gates stepped down. I am sure that many people must be hoping Apple going downwards.

The Wall Street Journal's Walt Mossberg said:
Extremely well-informed sources at Apple say he intends to remain involved in developing major future products and strategy and intends to be an active chairman of the board, even while new CEO Tim Cook runs the company day to day.
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Re: Steve Jobs resigns as CEO of Apple

Postby Antony » Mon 29 Aug, 2011 3:50 am

Now, this is interesting. Tim Cook worked at Compaq as Vice President for Corporate Materials.

Don bought two Compaq laptops (one later is under HP Compaq brand name).
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Re: Steve Jobs resigns as CEO of Apple

Postby Don_HH2K » Tue 30 Aug, 2011 11:37 am

One HP Compaq laptop - the other was an HP laptop (not bearing the Compaq name, but after the merger).

Well, my first computer (desktop) was a Compaq, but it was made in 1990, long before he came on board there.
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Re: Steve Jobs resigns as CEO of Apple

Postby Textor » Wed 05 Oct, 2011 3:25 am

Have you heard any news about Steve after his resignation? How is he doing?
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Re: Steve Jobs resigns as CEO of Apple

Postby Pu7o » Wed 05 Oct, 2011 6:50 pm

Apparently he died today. According to the Apple home page...

Apple home page wrote:Apple has lost a visionary and creative genius, and the world has lost an amazing human being.
Those of us who have been fortunate enough to know and work with Steve have lost a dear friend and an inspiring mentor. Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple.
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Re: Steve Jobs resigns as CEO of Apple

Postby Antony » Wed 05 Oct, 2011 7:21 pm

How sad
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