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Steve Jobs quits as Apple CEO

Steve Jobs has resigned from his position as Apple CEO last night, in a move allegedly related to his deteriorating heath.

In a resignation letter posted on the Apple website 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.’

Jobs recommended Tim Cook as his replacement as Apple CEO. Cook was previously Chief Operating Officer, responsible for worldwide sales, supply chain and sales activities.  Jobs will continue to be Chairman of the Board and director, so it seems like he’ll still have some input at Apple, but we’re not clear what.

According to Walt Mossberg from All things Digital: ‘Extremely well-informed sources at Apple say he intends to remain involved in developing major future products and strategy and intends to be an active chairman of the board, even while new CEO Tim Cook runs the company day to day.’

Jobs founded Apple in 1970 with Steve Wozniak, he later left the company before returning in the 1990s to transform the company, with products like the Mac, iPod and later the iPhone and the iPad. And we can’t forget the hugely successful  Apple stores around the globe. The company now has with 76 Billion cash – more than the US treasury.

Considering Jobs has been on sick leave from Apple since the start of the year – appearing only twice to launch the iPad 2 and forthcoming iCloud services – it’s not really a huge surprise. Over the recent years he has battled pancreatic cancer, but still remained Apple’s figurehead.

Apple’s share price dropped at the news, but this is only likely to be short term, especially with the iPhone 5 allegedly set for launch next month. Apple – like most consumer electronics’s company’s – will have a product roadmap mapped out for several years.

Steve Jobs resignation: Industry reaction

In terms of the public face of Apple, Jobs will be much harder to replace. He was a man many tech fans have been inspired by – from the moment they bought their first Apple computer. It’s hard to think of any figurehead within the technology sphere who was so clearly involved in the product process. But ultimately Jobs is only one part of a team, perhaps the biggest player, but team Apple is still there.

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