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Steve Jobs Quits

Now he's history.


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CUPERTINO (Rixstep) — Legendary Apple/NeXT founder and Apple CEO Steve Jobs has stepped down. He will be replaced by Tim Cook.

Jobs has been CEO of Apple since the 4 July weekend 1997. Apple stock plummeted up to 7% at the news.

'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', Jobs wrote in a brief letter explaining his resignation.

'I will say to investors: don't panic and remain calm, it's the right thing to do. Steve will be chairman and Cook is CEO.'

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

See Also
Apple Press Info: Letter from Steve Jobs
FT.com: Jobs resigns as Apple chief executive
Reuters: Steve Jobs resigns from Apple, Cook becomes CEO
Huffington Post: Steve Jobs Steps Down As Apple CEO: A Look Back

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