Finally the day comes when Apple will have to prove itself without Steve Jobs as it C.E.O . With many rounds of speculations going around since last few months about the launch of iPhone 5 it seems that the real surprise has came from Steve Jobs but in a different sense. Steve Jobs who is also synonymous to the Apple Inc has been largely and widely been held as the reason behind Apples success. Although in his resignation letter Jobs hasn’t defined the reason behind this step but the most probable case would be his health for certain. Steve Jobs has recommended Tim Cook, Apples current C.O.O as the new C.E.O of Apple Inc while Jobs remains the Chairman of the Board of Directors.
Steve Jobs had been on an extended medical leave since January 2011. He had also been on a leave on January 2009 for a liver transplant operation. Jobs has suffered from Pancreatic Cancer and had to undergo a surgery in 2004 (not before trying to cure that tumor by a special diet). The operation was a success and Jobs didn’t require any chemotherapy or radiation but since those days Jobs has always been badly affected due to bad health conditions.
Steve Jobs in his resignation letter has stated:
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 Jobs co-founded Apple along with Steve Wozniak in 1976 and has been regarded by many as the Best C.E.O ever. On November 5, 2009 Steve Jobs was named as the The C.E.O of the Decade by the Fortune Magazine and was also ranked 57th in the list of Forbes Most Powerful People. In December 2010 Financial Times named Jobs as the Person of the Year for 2010. Jobs has received many more rewards but above all he holds a very important position in the minds of Apple followers and share-holders. With this announcement Apples stock are expected to fall throughout the world.
Jobs will continue to be the Chairman of the Board of Directors which means that Apple will still be under his experienced supervision. With the launch of new products lined up and the domination it has in the tablet industry Apple is still likely to be the market leader in tech products. For more details about its effect on Apple read our article The Future of Apple Inc. [With or Without Steve Jobs]