Steve Jobs Resigns as CEO of Apple – Why?

Filed in Gather Technology News Channel by on August 24, 2011 0 Comments

Steve Jobs has resigned as CEO of Apple, Inc. Considering his health problems over the last few years, this isn’t a big surprise. However, it’s not likely to do any favors to the price of Apple stock in after-hours trading. And long-time Apple aficionados may be forgiven if they start to wonder if Apple’s co-founder and savior may be facing his last battle.

steve jobs resigns,steve jobs,jobs resigns ceo,tim cook named ceo,steve jobs health,steve jobs chairmanJobs’ letter of resignation from Apple was released after the close of trading today. Yahoo! News posted it. In the letter, he asked to be allowed to continue as chairman of the board. As for why he sought to resign, the letter says much and little at the same time.

Steve Jobs’ letter to the Apple board of directors starts with, “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.” His health in the wake of pancreatic cancer and a liver transplant has been a concern to many, himself most of all.

As for who will take up the reins of Apple, Reuters reports that Jobs recommended and the board agreed to allow Tim Cook to take the CEO position. Cook has served as interim CEO in the past for Jobs. This ought to reassure any skittish investors after the initial shock wears off.

Steve Jobs resigning from Apple, Inc’s CEO slot will hopefully not slow down his ability to provide vision for the company. In a prior occupation, this writer was working for Apple when Jobs returned. Despite being amongst the many laid off because of the changes he made, the company’s performance has demonstrated the wisdom of his decisions. Many others who went through the same process, called “being Steved,” seem to agree.

It’s a new era again for Apple. Will Tim Cook do as well as Jobs at steering the ship? And does this mean Jobs’ health issues are more terminal or is he merely admitting he’s not the young man he used to be? The comments are open for your input.

Article ©2011 Brenda Daverin for Gather.com. All rights reserved.

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