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Steve Jobs resigns as Apple CEO

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Steve Jobs resigns as Apple CEO

  • Apple CEO and co-founder Steve Jobs shows off the new Macbook Air ultra portable laptop during his keynote speech at Macworld in 2008.
    incredibleguy/FlickrApple CEO and co-founder Steve Jobs shows off the new Macbook Air ultra portable laptop during his keynote speech at Macworld in 2008.

Iconic Apple CEO Steve Jobs stepped down Wednesday from the firm he co-founded in the 1970s. The move marks the second time Jobs has left the company, and will be the third time he's left Apple's management.

Jobs did not cite a reason for leaving as CEO, but said he's like to remain as chairman of the board and an Apple employee.

He has been replaced by Tim Cook, Apple's chief operating officer, effective immediately. Jobs was elected chairman, the company said.

The co-founder of the computer manufacturer, which is now one of the largest corporations in the U.S., found himself pushed out as head of the Macintosh division in 1985.

After founding NeXT Computer and purchasing film company Pixar, Jobs returned to Apple in 1996, assuming a formal role as CEO in 1997.

He announced that he had pancreatic cancer in 2004, and took a six-month leave of absence in 2009. He had a liver transplant that spring.

Jobs had been on another medical leave of absence since January, but he continued to make appearances on behalf of the company,

"Steve has made countless contributions to Apple's success, and he has attracted and inspired Apple's immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration," the company said in a news release.

Announcement by Jobs

August 24, 2011–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.

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