We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Steve Jobs resigns as Apple CEO

The surprise announcement came Wednesday afternoon

Apple's iconic CEO, Steve Jobs, is resigning and has asked the company's board of directors to tap COO Tim Cook as his replacement.

The surprise announcement came Wednesday afternoon.

"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," Jobs said in a statement. "Unfortunately, that day has come."

Jobs has battled serious health issues for several years now and stepped away from day-to-day duties months ago.

Here is the text of the letter he released:

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

After-hours trading of Apple stock was halted when Apple released the news, according to MarketWatch. The company's stock fell more than 6% when trading resumed, then pared those losses to trade down 5.2% at $356.30 per share.

Developing story. More to come.


IDG UK Sites

Best January sales 2015 UK tech deals LIVE: Best New Year bargains and savings on phones, tablets,...

IDG UK Sites

Chromebooks: ready for the prime time (but not for everybody)

IDG UK Sites

Hands-on with Sony's latest smartglasses

IDG UK Sites

Apple TV expert tips: get US Apple TV content, watch Google Play, use multiple Apple IDs and more