Steve Jobs Resigns As CEO Of Apple [Resignation Letter]

The co-founder and the 2-time CEO of Apple, Steve Jobs, has offered his resignation to the company’s board of directors on Wednesday, in a move that came as a surprise to many. However, he will now be the Chairman of the board.

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Here is the complete resignation letter written by Steve to the board:

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

The company didn’t mention the reason behind this sudden departure, but the most likeliest is “health”. Jobs had some health concerns in the past, due to which he took a medical leave from the company back in January this year. He then returned in March to help launch the iPad 2.

As soon as this news broke out, Apple stock went down 7% which clearly suggests that traders became a bit hesitant. The shares are expected to go down more until Apple announces a clear cut plan on how to move forward after Jobs’ departure. However, he still is the majority share holder and an integral part of the the company.

From all of us at GizmoCrazed, we wish you well, and the best of health.

Update: Apple has announced that Tim Cook, formerly the COO of the company, will replace Steve Jobs as the CEO of the company. He was widely tipped to be his successor.