STEVE JOBS OF APPLE HAS RESIGNED

Apple CEO Steve Jobs has resigned and will be replaced by former Chief Operating Officer Tim Cook, the company said late Wednesday. Jobs will stay on as Apple's chairman.

Apple made no mention of Jobs' health in its statement about the change, but Jobs alluded to it in the letter of resignation he sent to Apple's board on Wednesday and later released publicly.

"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," wrote Jobs, who has been on medical leave since January. Cook has been filling in as the company's leader.

Apple's board took pains to praise Jobs, who led a historic turnaround for the once-ailing company. Apple shares were briefly halted in after-hours trading as Apple announced its leadership change. When trading resumed, shares dropped 5%.

"Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company," board member Art Levinson said.

"In his new role as chairman of the board, Steve will continue to serve Apple with his unique insights, creativity and inspiration."

http://money.cnn.com/2011/08/24/technology/steve_jobs_resigns/index.htm?cnn=yes&hpt=hp_t1

NEWS ABOUT STEVE JOBS' RESIGNATION

THE RESIGNATION LETTER

Steve Jobs stepped down as Apple CEO on Wednesday. Here is his resignation letter. 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.

FAST FACTS

STEVE JOBS BRIEF BIOGRAPHY

Steven Paul "Steve" Jobs (born February 24, 1955) is an American business magnate and inventor. He is co-founder, chairman of the board, and former chief executive officer of Apple Inc. Jobs also previously served as chief executive of Pixar Animation Studios; he became a member of the board of directors of The Walt Disney Company in 2006, following the acquisition of Pixar by Disney. He was credited in the 1995 movie Toy Story as an executive producer.

In the late 1970s, Jobs, with Apple co-founder Steve Wozniak, Mike Markkula, and others, designed, developed, and marketed one of the first commercially successful lines of personal computers, the Apple II series. In the early 1980s, Jobs was among the first to see the commercial potential of the mouse-driven graphical user interface which led to the creation of the Macintosh.

After losing a power struggle with the board of directors in 1984, Jobs resigned from Apple and founded NeXT, a computer platform development company specializing in the higher education and business markets. Apple's subsequent 1996 buyout of NeXT brought Jobs back to the company he co-founded, and he served as its CEO from 1997 until 2011.

In 1986, he acquired the computer graphics division of Lucasfilm Ltd which was spun off as Pixar Animation Studios. He remained CEO and majority shareholder at 50.1% until its acquisition by The Walt Disney company in 2006. Consequently Jobs became Disney's largest individual shareholder at 7% and a member of Disney's Board of Directors.

Jobs' history in business has contributed much to the symbolic image of the idiosyncratic, individualistic Silicon Valley entrepreneur, emphasizing the importance of design and understanding the crucial role aesthetics play in public appeal. His work driving forward the development of products that are both functional and elegant has earned him a devoted following.

On August 24, 2011, Jobs announced his resignation from his role as Apple's CEO to Apple's board of directors. In his letter of resignation, Jobs strongly recommended that Tim Cook be named as his successor. Per his request, Jobs was appointed chairman of Apple's board of directors.

http://en.wikipedia.org/wiki/Steve_Jobs

STEVE JOBS DOCUMENTARY: Part 1

STEVE JOBS DOCUMENTARY: Part 2

STEVE JOBS DOCUMENTARY: Part 3

STEVE JOBS DOCUMENTARY: Part 4

BE INSPIRED BY STEVE JOBS

Drawing from some of the most pivotal points in his life, Steve Jobs, chief executive officer and co-founder of Apple Computer and of Pixar Animation Studios, urged graduates to pursue their dreams and see the opportunities in life's setbacks—including death itself—at the university's 114th Commencement on Sunday in Stanford Stadium.

Wearing jeans and sandals under his black robe, Jobs delivered a keynote address that spanned his adoption at birth to his insights into mortality after being diagnosed with pancreatic cancer about a year ago. In plainspoken terms, his address struck a balance between the obstacles he has encountered during his notably public life and the lessons he has gleaned—for example, from his high-profile ousting in 1985 from the computer company he helped start.

Stanford University President Hennessy said Jobs embodied the university's spirit, its "willingness to be bold and strike out in new directions." Hennessy also touched on Jobs' reputation as an innovator, a visionary and an advocate for education who developed partnerships during Apple's earliest days to get computers into schools and communities.