Apple’s CEO resigns
Posted Aug 24, 2011 9:23 pm.
This article is more than 5 years old.
It’s the end of an era for Apple.
Apple Inc. issued a statement Wednesday saying Steve Jobs has resigned as CEO, effective immediately.
The company says Jobs will be replaced by Tim Cook, who was the company’s chief operating officer.
Jobs will stay on as Apple’s chairman.
The 55-year-old Jobs says the day has come when he can no longer fulfill his duties and expectations as the company’s CEO.
He’s been on medical leave since January, was diagnosed with pancreatic cancer in 2004, and had a liver transplant two years ago.
Jobs’ health has long been a concern for Apple investors who see him as an industry oracle who seems to know what consumers want long before they do.
After his announcement, Apple stock quickly fell 5.4 per cent in after-hours trading.
