Steve Jobs Resigns As CEO of Apple: Forbes Takes


Steve Jobs resigned as CEO of Apple this evening. Down below are the salient bits from the Apple[1] press release, preceded by links to what else we’ve been posting this evening. Much of the Web has already been trotting out its obit material. A little too soon, I think, but the consensus is there is not much time left.

Eric Savitz on why we should pray for Steve while buying up shares of Apple[2]. Savitz on the bullish reaction from the Street[3]. Eric Jackson with some Thursday morning (after) trading strategies[4] for Apple stock. Forbes editor Matt Schifrin names the elite hedge fund managers[5] who have been buying up Apple stock for months. Nicole Perlroth has the resignation letter[6]. Staff writer Brian Caulfield with the overview and longer view[7] and a “lost” 1984 video. Caulfield, again, with a look at Jobs’ tenure, by the numbers[8], with Apple tending to kick the industry’s ass. Caulfield, thricely, with the eve’s headline[9]: “What Will Apple Be Like Without Steve Jobs? We’re Not About To Find Out.” Staff reporter Tomio Geron got some reactions from tech execs[10] including Marc Benioff[11], Dennis Crowley. Contributor Carmine Gallo, from over in our Leadership[12] channel, divulges the seven principles of Steve Jobs’ success[13]. Tech channel[14] contributor Tero Kuittinen on how Apple’s next opponents will be tougher than Sony and Nokia[15]. Outgoing editor Quentin Hardy (we’ll miss you buddy) on picking up the phone one day in 1996; Steve was calling[16] to talk about Pixar. Savitz, again, reveals that his daughter once had a very special, imaginary friend named Steve Jobs, an exclusive for Forbes.com[17]. Chief product officer Lewis Dvorkin pens a post from the bridge recalling, the day Jobs came into his office at Newsweek[18] in 1985. Newsweek’s cover on Jobs got bumped for a Mexican earthquake, but maybe didn’t because we have a photo of that issue with Jobs on it. Contributor Robert Hof on Jobs’ highlights as advertising master[19].

The press release:

Apple’s Board of Directors today announced that Steve Jobs[20] has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple’s Board. “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.”

“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.

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.

References

  1. ^ Apple (finapps.forbes.com)
  2. ^ why we should pray for Steve while buying up shares of Apple (www.forbes.com)
  3. ^ bullish reaction from the Street (www.forbes.com)
  4. ^ Thursday morning (after) trading strategies (www.forbes.com)
  5. ^ names the elite hedge fund managers (www.forbes.com)
  6. ^ the resignation letter (www.forbes.com)
  7. ^ the overview and longer view (www.forbes.com)
  8. ^ a look at Jobs’ tenure, by the numbers (www.forbes.com)
  9. ^ thricely, with the eve’s headline (www.forbes.com)
  10. ^ reactions from tech execs (www.forbes.com)
  11. ^ Marc Benioff (www.forbes.com)
  12. ^ Leadership (www.forbes.com)
  13. ^ the seven principles of Steve Jobs’ success (www.forbes.com)
  14. ^ Tech channel (www.forbes.com)
  15. ^ Apple’s next opponents will be tougher than Sony and Nokia (www.forbes.com)
  16. ^ Steve was calling (www.forbes.com)
  17. ^ exclusive for Forbes.com (www.forbes.com)
  18. ^ the day Jobs came into his office at Newsweek (www.forbes.com)
  19. ^ master (www.forbes.com)
  20. ^ Steve Jobs (www.forbes.com)

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