From the Wahington Post
Apple co-founder Steve Jobs released a letter late Wednesday in which he resigined as Chief Executive Officer and named Timothy Cook as his successor. As the Washington Post’s Michael Rosenwald reported:
Apple chief executive Steve Jobs, who almost single-handedly changed the way people around the world consume music, the Internet and even TV, announced late Wednesday that he has resigned as leader of the company he co-founded in his parents’ garage.
Jobs, who has suffered from pancreatic cancer and had a liver transplant in 2009, has looked increasingly frail in his cultlike appearances in front of Apple fans to introduce new products, but he did not explicitly indicate in a letter to the company’s board and its customers whether his health was failing.
“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,” wrote Jobs, who has been on a health leave of absence since January. “Unfortunately, that day has come.”
Although not entirely unexpected given the grave nature of his previous illnesses — he had surgery for a rare form of pancreatic cancer in 2004 — Jobs’s resignation ends one of the most extraordinary runs in business history. This month, Apple briefly became the most valuable company in the world, surpassing oil giant Exxon Mobil.
Jobs has been replaced by Tim Cook, his longtime No. 2 and the company’s chief operating officer. Cook has run Apple’s day-to-day operations during Jobs’s health-related absences. Jobs will be chairman of the board.