Steve Jobs Resigns As Apple CEO; Tim Cook Now In Chargeby Andrew Cunningham on August 24, 2011 7:04 PM EST
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As of this evening, Steve Jobs has resigned his post as CEO of Apple, naming Tim Cook as his successor. This news follows an extended health-related leave of absence that began this past January. Jobs will stay on at Apple as Chairman of the Board.
In a press release, Jobs cited his inability to "meet [his] duties and expectations as Apple's CEO" as the reason for his resignation, but didn't go into any further detail.
As for Tim Cook, he's been running the show since Jobs took his leave of absence, and so the transition should be relatively smooth. Time will tell whether Jobs' final departure will effect the company's long-term health and growth as investors have sometimes feared that it would.