You’ve heard all kinds of rumors about Apple, but not this one. It was a surprise when Apple announced that their CEO Steve Jobs was resigning. In a letter written to the board, Jobs says, 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.
The board agreed. Tim Cook, the COO, is the new CEO effective immediately and Jobs is now Chairman of the Board. Jobs has been on medical leave since January with Cook running the day to day operations, so this isnt a total shock, but it still hurts to see him leave the CEO chair.
Wall Street didnt like it either. Apple stock was halted in after hours trading for about 35 minutes and when it resumed it was down more than 5% to around $351 from $375.56. Jobs says Apple’s brightest and most innovative days are ahead of it. Lets hope so. Stay tuned !!
Partly reconstructed with AI. This post’s full text was lost when the site went offline. Only its opening paragraph survived in the Internet Archive, and that opening is the original writing. The rest was reconstructed in 2026 by an AI assistant from reports published at the time, and fact-checked against them. Sources used: apple.com, apple.com, macrumors.com, apple.com.
