August 25th, 2011, 21:20 PM
Steve Jobs resigns as Apple CEO, Tim Cook takes helm
Apple co-founder Steve Jobs has stepped down from his position as CEO of the company and Tim Cook, Apple's chief operating officer, has been named to take the helm, Apple announced Wednesday.
"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," Jobs wrote in a letter to Apple employees.
Jobs has wrestled with cancer in recent years and took an indefinite leave of absence in January to focus on his health. An Apple spokeswoman declined to elaborate on why Jobs resigned at this time. He submitted his resignation Wednesday and "strongly recommend[ed]" that Cook be elected CEO, Apple said.
Jobs has been elected chairman of Apple's board, effective immediately, and Cook has been made a board member, the statement said.
"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," Jobs wrote in his letter.
Full story: Computerworld