Out of a Jobs
Scotticus ORLYus | 24 Aug 2011 | 7:27 PM CST (-6 GMT)
via: most any news source, credible and otherwise
official press release: http://www.apple.com/pr/library/2011/08/24Letter-from-Steve-Jobs.html
He always said he’d do it this way. Apparently, nobody thought it would be now; that or they thought he was being hyperbolic. Steven P. Jobs, co-founder and strongest single asset to tech giant Apple Inc., has resigned from his post as CEO. Ever since his bout with pancreatic cancer in 2004, he’s been in and out of operational influence at the company. As a measure of fact, he is technically on medical leave at the time of this writing.
Whatever the case, Steve Jobs has seen fit to officially relinquish his position of authority over what Apple does and where it heads. It was a scheduled, premeditated announcement, at that. As Bloomberg noted, “Apple gained $2.58 to $376.18 at 4 p.m. New York time on the Nasdaq Stock Market, and the shares were halted before the announcement in late trading that he was resigning.” Odds are that the [shareholder] fervor sure to follow this announcement is expected—or at least hoped—to have cooled before the the opening bell on Thursday.
But, make no mistake, Steve Jobs isn’t entirely out of the picture. His resignation letter is pretty clear about that:
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.
As a point of fact, for the past 7 years, when Steve Jobs has had to leave his post for extended periods of time, then C.O.O. Tim Cook would fill in for him. In the past two years, Mr. Cook has been afforded more control and influence over the company by his mentor whom he is now set to replace. What this amounts to is business somewhat as usual in Cupertino. At least business as usual for the past 2 years.
We at the TiltCast wish Mr. Jobs all the best and congratulate Mr. Cook on his apparent new position at Apple.
SUPPLEMENTAL: Also of note, apparent insiders at Apple are being reported as saying Jobs has recently undergone a liver transplant. This will likely serve to reinforce the constant flurry of rumors about cancer relapses and ongoing treatment. Such scenarios would also make sense as to why Steve would step aside at this particular time. However, there is no official word on the matter.