Steve Jobs Resigns as CEO of Apple

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Serb

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I can't believe this hasn't been posted already but here it is!

http://www.apple.com/pr/library/2011/08/24Steve-Jobs-Resigns-as-CEO-of-Apple.html

Tim Cook Named CEO and Jobs Elected Chairman of the Board

CUPERTINO, California—August 24, 2011—Apple’s Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,†said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.â€

“The Board has complete confidence that Tim is the right person to be our next CEO,†added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.â€

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
 

1337K1N6

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Was gonna post this last evening but I thought everyone knew by now.

Very sad news :( Apple's stock fell sharply after the announcement :/ I wonder how Apple's future will be. Well at least he's the chairman now.
 

Serb

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Was gonna post this last evening but I thought everyone knew by now.

Very sad news :( Apple's stock fell sharply after the announcement :/ I wonder how Apple's future will be.

It only fell 5% thats not a huge difference for a new CEO.
 

1337K1N6

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Oh, I must've read an off source. It said the stock took a "nosedive" after the announcement.
 

Kanni

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The chairman is the CEO's boss. He is also kind of the spoke person. And he gets to do less work now, so its better for his health. ;)
 

Darkness

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Oh Shi-. I wonder if Cook will introduce any new technology during his "reign"
 

Anthony

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Its incredible how much power this man house. When investors noticed that his health and JUST HIS HEALTH looked poor stocks fell.
 

Soviet

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lol... and just when Apple is labeled the most valuable company in the world?
 

Bubba925

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He has been moved to Head Chairman of the Board. Kinda like what Bill Gates did.

Anyway stocks dropped like $20 so you could potentially make some money if you have like $1,000 to invest in Apple.
 
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