Steve Jobs

Steve Jobs, 55,  relinquishes his role as Apple’s CEO tonight.    While this may not come as a huge shock to people, as over the years, there has been great speculation about Steve’s health.  Most notably, Steve was diagnosed with pancreatic cancer in mid-2004 and underwent a liver transplant in 2009.

It’s been 35 years since Jobs co-founded Apple, and since then has helped drive the company to unimaginable success.  Apple is currently valued at $349 billion which makes it the worlds second biggest company.

Steve’s ambition and drive to constantly strive for the best is what brought us the iPod.  I mean, MP3 players we’re nothing new, but the iPod set a new benchmark that competitors are still chasing.

The announcement saw a sharp drop in Apple shares, but that’s to be expected.

Steve’s 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.

Steve