Steve Jobs steps down from Apple

Updated
Steve Jobs (file)
Steve Jobs (file)
Justin Sullivan/Getty Images

The man who brought us the iPod, iPad and those tiny white “buds” that snugly tuck inside ears is stepping down from his position as Apple CEO. Steve Jobs formally announced his resignation today, sending shock-waves through the tech and business world.

Jobs turned Apple from a nearly broke computer company into one of the most powerful companies in the world. He has suffered from ill health on-and-off in recent years, which required extended medical leave to undergo treatment for pancreatic cancer and a liver transplant.

Tim Cook, the company’s Chief Operating Officer is taking over as CEO. The change takes effect immediately.

Apple confirmed Jobs was elected board chairman and Cook is becoming a member of its board.

Here’s the full text of his resignation letter:

To the Apple Board of Directors and the Apple Community:

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.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Truly the end of an era. Thoughts on his departure? Leave a comment in the space below or hit me up on Twitter.

Steve Jobs steps down from Apple

Updated