Jobs steps down, Cook takes over

Steve Jobs Resigns: Apple CEO Stepping Down

Tim Cook will take over the CEO position. This is a great move for both men. No doubt much more on this will be written in the next 24 hours.

PRESS RELEASE: Letter from Steve Jobs

August 24, 2011–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.

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