Steve Jobs resigns as Apple CEO
Steve Jobs announced today that he's stepping down as CEO of Apple. Get the details on his resignation, as well as his replacement.
Jobs has been on leave for "medical reasons" since January, but it wasn't Jobs' first leave of absence for health reasons. Over two years ago, Jobs took leave after being diagnosed with pancreatic cancer. While it's unknown exactly why Jobs stepped down today, it's fair to say he's battled his health for a while now.
Before the announcement of Jobs' resignation was made, Apple shares were suspended from trading.
"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," Jobs wrote in a resignation letter. "Unfortunately, that day has come."
In March, Jobs made an appearance for the unveiling of the iPad 2. He also attended a dinner hosted by President Obama for technology leaders. However, beyond that, Jobs has been off the radar.
Tim Cook, who was placed in charge of day-to-day operations back in January, will serve as Apple's CEO now.
"The Board has complete confidence that Tim is the right person to be our next CEO," Art Levinson, chairman of Genentech and Apple board member, said in a statement.
However, as the Wall Street Journal noted, Cook has tall orders to fill -- he has to show that Apple can remain successful without Job's as the company's leader.
While it's sad to see Steve Jobs leave Apple, we wish him the best.