The mastermind behind Apple’s ascension to being the trendsetters in the world of computer technology, Steve Jobs, has given his resignation as CEO of the company today. In a letter to the company he issued the following statement:
“I have always said that if there ever came a day when I could no longer meet my duties and expectations as Apple’s C.E.O., I would be the first to let you know,” Mr. Jobs said in a letter released by the company. “Unfortunately, that day has come.”
Jobs will take on the position of Chairman of the Board which would be less demanding and hand over the CEO reigns to Tim Cook, the company’s current COO. Steve Jobs, a co-founder and two-time CEO of Apple has been dealing with some serious health issues due to his rare form of pancreatic cancer for some time, thus, the resignation is not especially surprising.
Following the news Apple’s stock dropped 7% (falling to $357 a share) but managed to rally 5 1/2% back upwards just a few hours ago after a succession plan for the company became apparent.Business analysts are saying that this was in fact the best time for Jobs to step down in order for an optimal transition that would lead the company to a bright future.
Jobs is certainly a titan of industry and we wish him the best of health in these tough times.