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The Infinite Loop skips a beat: Steve Jobs resigns as Apple CEO, named Chairman

CUPERTINO, Calif. /California Newswire/ — According to reports breaking today after the markets closed, Steve Jobs has resigned as CEO of Apple Computer, Inc. (AAPL), with Tim Cook taking over as has been expected. Job’s health issues the past couple of years have made a move like this somewhat inevitable.

Here is a copy of Jobs’ 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.

Steve

Additional information will be released formally over the next day.

CA Business, California NEWS INDEX, City: Cupertino, Newsdesk
 

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