Apple’s co-founder Steve Jobs has resigned as CEO, and the company’s board of directors has named Tim Cook, previously Apple’s chief operating officer, as his replacement.
Jobs, who went on medical leave seven months ago, has been elected chairman of the board and Cook will also join the board with immediate effect.
In an open letter to the board of directors and the “Apple Community”, Jobs wrote: “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 recommended that Apple appoint Cook as CEO, and added that he believed that Apple’s “brightest and most innovative days” remain ahead of it.
Apple’s share price fell by more than 5% in after hours trading following the announcement.
Art Levinson, chairman of Genentech and Apple board member, said: “Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as chairman of the board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”
As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries.
He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.
