According to Official Press release by Apple, Steve Jobs has resigned from the post of CEO of the world’s 2nd biggest company, the company he cofounded at age 21. He is selected as the new Chairman of Apple. Tim Cook, previously Apple’s Chief Operating Officer, will be the company’s new CEO. 50 years old, Tim, who had been acting in Jobs’ place during his medical leave, previously served as chief operating officer of Apple, responsible for the company’s worldwide sales, supply chain and other operations. He stepped in for Jobs in 2004 and 2009 as well and also previously headed Apple’s Macintosh division.

Steve Jobs submitted his resignation to Apple’s Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO after him. In his new role as Chairman of the Board, Steve jobs will continue to serve Apple with his unique insights, creativity and inspiration.

Letter from Steve Jobs

CUPERTINO, Calif.–(BUSINESS WIRE)–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

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Muhammad Bilal has written 66 post in this blog.

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