Steve Jobs resigns

iMax · 24-08-2011 10:44PM #1

Mac Rumours

CUPERTINO, Calif.–(BUSINESS WIRE)–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

Wonder how much the shares will fall...

bluemachaveli · 24-08-2011 10:45PM

Serious nose dive coming I would say.

Engadget have the full press release!

drunkmonkey · 24-08-2011 10:46PM

Is it down to his health?

Wish I had some money left in my spread betting account, great day for shorting tomorrow.

helimachoptor · 24-08-2011 10:46PM

I presume it's on going health issues causing this?

jcrowbar · 24-08-2011 10:48PM

It's been coming for a long time now.

He's nominated Tim Cook as his successor. I think the golden years of Apple are over!

muggyog · 24-08-2011 10:48PM

Fair play to him. He hung in there longer than I thought he would.

johnayo · 24-08-2011 10:48PM

New Ceo
....Tim Cook

bluemachaveli · 24-08-2011 10:50PM

helimachoptor wrote: »

I presume it's on going health issues causing this?

I would think the mentality behind it is him passing the reigns now will do less damage to the stock price than if he died suddenly.

fifth · 24-08-2011 10:55PM

You would be mad to sell off shares now. He's still chairman on the board and I'm sure he'll have a strong role to play behind Tim Cook.

muggyog · 24-08-2011 10:57PM

bluemachaveli wrote: »

I would think the mentality behind it is him passing the reigns now will do less damage to the stock price than if he died suddenly.

Very machiavellian!

DjFlin · 24-08-2011 10:57PM

bluemachaveli wrote: »

I would think the mentality behind it is him passing the reigns now will do less damage to the stock price than if he died suddenly.

Not if they put a spin on it. Like;

Steve died....Pouring all his energy into creating the brand new iThing! In stores now.

I'd buy 8 of those iThings in a flash....

Happyman42 · 24-08-2011 11:01PM

Ming convinced him to run for President! :eek:

Sad Professor · 24-08-2011 11:15PM

It's a sad day.

Apple's stock is going to take a right beating tomorrow. Cook will do a good job, but nobody will ever fill Jobs's shoes. Love him or hate, he's a legend. He brought Apple back from the brink of bankruptcy 12 years ago and look at where it is today.

24-08-2011 11:22PM

drunkmonkey wrote: »

Is it down to his health?

Wish I had some money left in my spread betting account, great day for shorting tomorrow.

This was my third thought (after thinking he had died/is dieing and sad professors thoughts above being the second), great day to make some money as the stock will fall but will rise back up soon enough.

DjFlin · 24-08-2011 11:25PM

Sad Professor wrote: »

It's a sad day.

Apple's stock is going to take a right beating tomorrow. Cook will do a good job, but nobody will ever fill Jobs's shoes. Love him or hate, he's a legend. He brought Apple back from the brink of bankruptcy 12 years ago and look at where it is today.

In a country with no brakes headed for a brick wall

But for reals. He'll be missed.

24-08-2011 11:29PM

Ives and cook and others do more than people think, plus I would imagine the road plan for Apple is pretty much set in stone for the next several years.

That said him leaving will have a bad affect on the company, but not half as bad as people think.

huggs2 · 24-08-2011 11:30PM

isad:(

24-08-2011 11:33PM

Stock is down around 5% after hours - thats not as bad as (I) expected.

whiterebel · 25-08-2011 08:45AM

He'll be sadly missed. Love him or hate him, Jobs is something else.

Cook is a great organiser, but no flair or charisma. Time for Jonny to step up for the keynotes, I think. Unless Woz could be persuaded.....:eek:

cornbb · 25-08-2011 09:24AM

conor.hogan.2 wrote: »

Stock is down around 5% after hours - thats not as bad as (I) expected.

Wall Street has known for a very long time that Jobs wouldn't be around for long. It was just a matter of when. The markets will have been ready for this; the expectation will already have been factored into the share price. So I wouldn't expect to see anything other than a blip, really.

Sean Quagmire · 25-08-2011 10:51AM

whiterebel wrote: »

He'll be sadly missed. Love him or hate him, Jobs is something else.

Cook is a great organiser, but no flair or charisma. Time for Jonny to step up for the keynotes, I think. Unless Woz could be persuaded.....:eek:

As long as Jonny is there my confidence in apple will stay high. I would like him to have more involvement in key notes. I don't think Tim Cook and Bob Mansfield have the flair to carry and exciting product launch.

It's sad to see I hope his health doesn't seriously decline any time soon, the man is a hero.

25-08-2011 01:03PM

cornbb wrote: »

Wall Street has known for a very long time that Jobs wouldn't be around for long. It was just a matter of when. The markets will have been ready for this; the expectation will already have been factored into the share price. So I wouldn't expect to see anything other than a blip, really.

I dont know anything about the stock market, but it seems you are right (so far anyway) and every media I have read is wildly wrong.

Snowie · 25-08-2011 05:24PM

hey it is sad alright but Tim cook did a lot for apple to he got there profit marjins up bye closing down factorys in places etc... so he maybe a bit of a tight ass but one never knows... apple have been peaking for some time they can't stay at the top for ever...

As a brand they may fall but its controlable... to a degree theyve got a new line coming out it seems some what planned....

for some time...

silvine · 25-08-2011 09:44PM

People are talking like he's dead. He's might not be CEO anymore but he's still the Chairman of the Board and will have a role in Apple and how its technologies develop. When a company is that size you have to question how much of an impact one person has on the day to day operations anyway.

Freddie59 · 25-08-2011 10:53PM

silvine wrote: »

People are talking like he's dead. He's might not be CEO anymore but he's still the Chairman of the Board and will have a role in Apple and how its technologies develop. When a company is that size you have to question how much of an impact one person has on the day to day operations anyway.

In all fairness, he is not just 'one person'. He is a driving force, innovative beyond compare, with a dynamism that will be very difficult (if not impossible) to replace.

Sad Professor · 25-08-2011 11:13PM

He can't be replaced. And I wouldn't look to Ives or Cook or anyone with that expectation. But hopefully enough of his vision has been absorbed by the company over the last decade and a half to ensure Apple's future. I'm not that worried about Apple tbh, at least not in the short term. Even before Jobs came back they were a great computer company, albeit one floundering under poor leadership. My first Mac was made pre-Jobs's return and it is the reason I'm using Macs today. I'm mostly sad for Steve. And for Apple, as already said, it's an end of an era.

miralize · 26-08-2011 10:42AM

No one person can replace Jobs, but there are a multitude of individuals that can take up Job's roles seperately

Interesting infographic about an internal university at Apple, that trains employee's to think like Steve Jobs

http://www.onlinecolleges.net/2011/07/18/whats-inside-apple-university/

Sad Professor · 26-08-2011 04:10PM

Gruber posted this a while ago. It's the closing keynote Jobs did at WWDC in 1997. This was shortly after his return to Apple and a couple of years before he became permanent CEO. He was officially still an advisor at the time. It's a very long but interesting watch.

https://www.youtube.com/watch?v=3LEXae1j6EY

ZENER · 27-08-2011 12:57AM

Having lost a very good friend to Pancreatic Cancer in a very short space of time (>6 months from diagnosis) I can understand his reasons, he's living on borrowed time right now and probably feeling there are many things he has left to do before he passes.

He's had several years dealing with this ailment I reckon he realises how lucky he is to have survived this long and wants to make the most of it.

A persons quality of life is far more important than any company's share price. Go for it Steve, live for now.

Ken

iMax · 27-08-2011 07:41AM

Saw a photo of him taken in the last few days, I'd saw he's got about three months left.

Freddie59 · 27-08-2011 08:40AM

ZENER wrote: »

Having lost a very good friend to Pancreatic Cancer in a very short space of time (>6 months from diagnosis) I can understand his reasons, he's living on borrowed time right now and probably feeling there are many things he has left to do before he passes.

He's had several years dealing with this ailment I reckon he realises how lucky he is to have survived this long and wants to make the most of it.

A persons quality of life is far more important than any company's share price. Go for it Steve, live for now.

Ken

Indeed. My own sister-in-law died from it a few years ago. The time normally from diagnosis to end is approximately six months. She got 18, so Steve has indeed lived beyond expectations.

Steve Jobs resigns

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