|The undisputed Apple boss and co founder Steve Jobs is resigning for health reasons. He has been struggling with cancer for some time. Tim Cook is taking over as CEO and gets a seat in the board.|
The Apple stock dropped some 5% and Samsung, HTC and LG Electronics went up
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 Jobs has been the main factor for Apples success. At times it has been pretty much a one man show and everything Steve has touched has turned into gold.