Steve Jobs Resigns as Apple CEO

Posted by Jordan Minor on August 25th, 2011

“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,” said Steve Jobs in the letter in which he announced his resignation as Apple’s Chief Executive Officer effective Aug. 24, 2011.

The board has already approved Jobs’ request to become Chairman of the Board as well as name former Apple COO Tim Cook as the new CEO. Ever since Jobs began battling pancreatic cancer, Cook has been running the day-to-day operations of the company, including briefly becoming CEO in 2004 when Jobs first announced that he had the disease.

Jobs, who had helped start the company in 1976 with Steve Wozniak, had previously left Apple in 1985 to form NeXT only to return in 1996 after an Apple buyout and ascend to CEO in 1997. During his tenure, the company had experienced success so great that they briefly had more money than the U.S. government.

Apple has also released a statement regarding Jobs’ resignation.

“Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”