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.

Source: Reuters

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  • cervantesmx - Wednesday, August 24, 2011 - link

    Not expected at all.
  • PeteH - Wednesday, August 24, 2011 - link

    I disagree, I think everyone knew this was coming, just not exactly when.

    I think it's being handled as well as any transition of this magnitude could: Jobs as CEO to Jobs as CEO on leave with Tim Cook as acting CEO, to Tim Cook as CEO with Jobs as Chairman of the Board. Since it's gradual it's less jarring than if Jobs had just resigned entirely in January.
  • Paulman - Wednesday, August 24, 2011 - link

    Yeah, I think you're right - it's been a pretty graduated transition, all things considered.

    P.S. Btw, I think the op (cervantesmx) was being ironic :P
  • web2dot0 - Wednesday, August 24, 2011 - link

    No really? Like everyone gonna die sometime .....

    There's no logic to your thinking. He was on medical leave. You know, like he's sick. Jobs' leaving the company is probably a signal that he's gravelly ill. No one expected to be this quick though.

    Anyone can say what you said, the question is whether anyone anticipated this coming so soon. The answer is NO. If you knew, you could of made some serious $$$.

    Don't be a smartass.
  • Spivonious - Thursday, August 25, 2011 - link

    I agree. This means that Jobs' cancer has returned and isn't responding to treatment. As much as I hate the Apple sheep, I hate cancer more.
  • GTVic - Thursday, August 25, 2011 - link

    Like, don't say like so much.
  • Ryan Smith - Wednesday, August 24, 2011 - link

    Even though he's just retiring it's still a sad day for the industry. Apple has its detractors (and for good reason), but he's one of the very few CEOs to "get it" when it comes to running a tech company. Hopefully the company can continue building good products without his weirdly impeccable taste.
  • gramboh - Wednesday, August 24, 2011 - link

    Agree with you here, even if you were not a fan of Apple's products, business practices or Jobs himself, you have to admire what he has done with the company, his vision and execution are amazing. Truly a sad day for the tech and business worlds, and this generation.
  • prdola0 - Thursday, August 25, 2011 - link

    I disagree. Switching an entire generation's focus to "looks" instead of "contents" is nothing to admire. He built his whole success these days on the classic american highschools' "popular" thinking. What do you think happens to a generation of americans and europeans, that spends half or more of it's productive time on "looks"? Not all of them do, but it's such a huge majority, that we will just decline and other cultures will rise. And a huge part of this is Jobs' responsibility. If you haven't missed the riots in London, where the poor kinds were just stealing iPhones, iPads and other status items and toys that the rich have, you can see where this is going.

    I am glad that he goes. But he should have never returned in the first place.
  • tim851 - Thursday, August 25, 2011 - link

    Yeah, because before Apple, nobody ever cared about product asthetics at all. Before 1997 and that iMac culture shock, cars weren't build to be sexy, clothes weren't designed to be fashionable and nobody judged people on their looks... *rolleyes*

    If anything, Apple/Jobs have helped bring PCs out of the nerd corner. I know, Linux geeks like you felt so special and exclusive back then. Your own brand of snobbiness, ironically.

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