News broke just minutes ago, that two-time CEO of Apple Steve Jobs is resigning his top position. His letter to the board and world, says
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.
Given the proximity of the announcement to the launch of the iPhone 5, it seems likely the decision was likely a result of medical advice to scale back. Jobs will stay on as a member of the Apple board, which will see his influence remain in the company for some time to come. This does however free him from the day-to-day duties of a CEO.
Apple had been planning this day for some time now, and Job’s advice to the board was to execute on their succession plan by appointing Chief Operating Officer Tim Cook as Apple’s new CEO. The board has since approved that recommendation and Apple’s top job, effective immediately is now being done by Tim Cook.
More @ Apple.com