Steve Jobs, The Innovator, Resigns As Apple CEO

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.”

Bottomline:

Steve Jobs made the right decision to resign at the best time, when Apple is at the top, Apple became the most valuable company, Apple business is firing on all cylinders, and Apple is armed with the most innovative product portfolio. It takes a bigger man to go out when you are at the top! Bravo Steve Jobs for a great decision... You will be forever missed as the Apple CEO.

Source: Apple