Steve Jobs Resigns as Apple CEO, Recommends Tim Cook as Successor [Update]

Steve Jobs announced late afternoon on Wednesday that he was resigning from Apple Inc., the company he cofounded with Steve Wozniak in 1976. In a letter, the iconic technology leader said that the day had come when he could no longer meet his duties as CEO and he recommended Tim Cook as his successor.

Apple Chairman Steve Jobs

Apple Chairman Steve Jobs
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Steve Jobs’s letter:

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.

Apple has followed Mr. Jobs’s letter with its own official announcement naming Tim Cook CEO. The company also announced that it was taking Mr. Jobs up on his offer to be Chairman, and that he had officially been elected to that position.