Steve Jobs resigns from Apple...

[FrostedxB]

http://www.reuters.com/article/2011/08/24/us-apple-idUSTRE77N82K20110824

The pancreatic cancer survivor and industry icon, who has been on medical leave for an undisclosed condition since January 17, will be replaced by COO and longtime heir apparent Tim Cook.

Claims he can't meet the expectations as CEO. Wonder if this has anything to do with his condition? Also curious to see what Cook has planned for Apple and some future products.

EDIT: CNN Article - http://finance.fortune.cnn.com/2011/08/24/fallen-apple-steve-jobs-resigns/?hpt=hp_t1

We have no additional details yet on why Jobs is leaving, although the spot assumption is that it's related to the pancreatic cancer for which he received a liver transplant in 2009. The fact that Jobs is taking over as board chairman, rather than resigning that seat too, would seem to indicate that his condition is serious but not imminently debilitating.

 

[Shakermaker]

Wonder if this has anything to do with his condition?

Most likely. His farewell 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

Expect Apple stock to take a huge dive tomorrow btw.

 

[Dandan]

Apple will do fine. College kids and young people don't care who is selling them stuff, it sells like hotcakes.

 

[StarBob]

Meh, they're sitting on a mountain of cash. They can get every investor back by making a single acquisition. However I do have to commend the guy on taking Apple from complete obscurity to a competitor or in some cases a leader in various industries. I've never been an Apple person, but you can't pretend he wasn't a hell of a businessman. He convinced millions of people to spend 50-100% more on products simply because of a name.

 

[AtomicSpark]

RIP Apple.

 

[Ennui]

Apple's gonna be just fine, although Steve Jobs is one hell of a businessman.

I bet he's gonna die pretty soon. I'd even say within a year from now. Saw pictures of him from some conference several months ago and he's looking pretty gaunt and unhealthy... I suspect that's the reason he's stepping down.

As much as I prefer PCs to Macs and all, I still have a lot of respect for Jobs, so fare thee well.

 

[Bad^Hat]

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