Steve Jobs resigns as Apple CEO

Newsroom 25/08/2011 | 13:35

Steve Jobs has resigned as CEO of Apple, after a 14-year performance in which he brought the company back from brink and turned into the world’s largest corporation.

Jobs, who will become chairman, was on medical leave since January 17 after combating a rare form of cancer since 2003 and surviving a liver transplant in 2009. He is succeeded by COO Tim Cook, who joined Apple in 1998, over sighting sales, manufacturing and distribution.

Steve Jobs was ousted by the Apple board in 1985 amid differences over strategy. In his time, Jobs ran movie animation studio Pixar, which he later sold to Walt Disney, as well as NeXT Software, the company that Apple acquired to return him to the company in 1997. Later that year, he became interim CEO and in 2000, the company dropped “interim” from his title.

Apple’s popularity grew in the US throughout the 2000s as the slick line of IPods introduced many lifelong Windows users to their first Apple gadget. Another sensation was created in 2007 with the IPhone, the smart phone that quickly dominated the industry, and the IPad which was introduced less than a year and a half ago.

The resignation sent the company’s shares tumbling 5.3 percent in after hours trade. Apple shares fell to USD 356.10 after closing normal trade at USD 376.18, following the anouncement.