Steve Jobs Resigns as CEO of Apple

Says that the “day has come” when he can no longer meet his “duties and expectations.”

Josh Voorhees

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Steve Jobs has resigned as Apple’s chief executive officer, the company’s board of directors announced Wednesday.

Apple’s chief operating officer, Tim Cook, will take over atop the company, according to Apple. As part of the move, Jobs was named chairman of the board, effective immediately.

"Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” Art Levinson, chairman of Genentech, said in a statement on behalf of Apple’s board. “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.”

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