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Steve Jobs Resigns

Steve Jobs has resigned as CEO of Apple, Inc, the computer company he co-founded in 1976, reports Reuters, saying trading in Apple stock was suspended just prior to the announcement. He will assume the role of Chairman, and is being succeeded as CEO by Tim Cook, who was previously Apple COO. Jobs, a 55 year-old cancer survivor, has been on medical leave for an undisclosed condition since January, and while it is not clear what role his health played in this decision, it seems from the wording of his announcement that it was a factor. "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," he said in his resignation letter. "Unfortunately, that day has come." Cook has served as interim CEO during two of Jobs' previous medical absences, and has been running day-to-day operations of the company during Jobs' most recent leave. The report quotes BGC Financial analyst Colin Gillis saying: "I will say to investors: don't panic and remain calm, it's the right thing to do. Steve will be chairman and Cook is CEO." Thanks Dirwulf.

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1. Re: Steve Jobs Resigns Aug 24, 2011, 20:01 WyldKat
 
Wow that's pretty surprising.  
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