Steve Jobs Resigns as Apple CEO

Steve Jobs, the iconic head of Apple computer and the man that many consider responsible for the company's success with the iPhone and iPad, has just resigned as CEO.

His resignation letter said:

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

The Changing of the Guard
Jobs had a very hands-on management style at Apple, and the company shipped no product that he hadn't approved. However, he has had medical problems over the last few years, and has been on hiatus since January, as he has dealt with pancreatic cancer and its aftermath.

He co-founded Apple with Steve Wozniak in 1976, and lead the company during most of its existence as it went from desktop computer to laptops. In recent years, he has helped bring his company significant success -- it's currently the largest smartphone and tablet maker in the world. More than that, the iPhone and iPad redefined their industries.

Because he had such a large role in designing the company's products, Jobs' departure as CEO is likely to send shockwaves through the phone, tablet, notebook, and desktop industries. Specifically, Apple's stock price, which has risen to stratospheric heights based on the success of the company's mobile products and its resultant consistent quarterly profits, is likely to take a significant hit.

Even though Tim Cook has been been handling day-to-day operations at Apple since January, and Jobs will stay on as the Chairman of the Board, today is undoubtedly the beginning of a new era for the company. 

Brighthand's sister-site NotebookReview.com has an additional retrospective on Jobs' role at Apple:

Steve Jobs Steps Down as Apple CEO