Business & Tech
BREAKING NEWS: Steve Jobs Resigns
Apple's chief executive steps down, saying he can 'no longer meet my duties and expectations as Apple's CEO.'
Will the news of Steve Jobs stepping down as CEO upset the Apple cart? It’s too soon to tell as the news was announced Wednesday.
In his resignation letter—as it appears on CNNMoney and the Wall Street Journal—Jobs said, “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.”
He asks the board to keep him on in the capacity of “chairman of the board, director and Apple employee.”
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Jobs has been on medical leave since January but makes no mention in his letter if health matters were a factor in his resignation.
Replacing Jobs at the helm is Tim Cook, the company’s chief operating officer.
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Jobs is credited with turning around the company that nearly faced bankruptcy about 13 years ago.
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