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Steve Jobs Steps Down as Apple’s CEO – Succeeded by Tim Cook

Steve Jobs just resigned as CEO of Apple. According to Apple, he will be succeeded by Apple’s current Chief Operating Officer Tim Cook who has long been considered his logical successor. Jobs will become the Chairman of the Board and remain an Apple employee.

Here is his letter to the Apple board:

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

Given that Jobs notes that he felt that he “could no longer meet [his] duties,” we will likely see plenty of speculation about his health in the next few days. Jobs is a pancreatic cancer survivor, but given that he has been on medical leave for a while now, today’s announcement will surely rekindle the speculation about his current health.

Job’s letter is also the first indication that Apple indeed had a succession plan in place for a while now and that Cook was indeed Jobs’ designated successor.

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