Steve Jobs steps down from Apple
Apple CEO and co-founder Steve Jobs resigned today as chief executive officer from Apple. His place at the top of the company will be taken by Tim Cook, previously Apple's chief operating officer.
1976
Co-founds Apple with Steve Wozniak.
1984
Apple introduces the Mac.
1985
CEO John Sculley engineers Jobs' ouster from Apple.
1985
Founds Next Computer (later becomes Next Software).
1986
Buys computer graphics division of LucasFilm, to be renamed Pixar.
1996
Returns to Apple as adviser when Apple buys Next Software
1997
Named interim CEO of Apple.
2001
Apple introduces iTunes software and the iPod; the iTunes store follows in 2003.
2006
Disney buys Pixar; Jobs becomes largest shareholder.
2007
Apple introduces the iPhone.
2009
Takes 6-month leave of absence for medical reasons.
2010
Apple introduces the iPad.
January 2011
Takes medical leave of absence.
August 2011
Resigns as CEO, becomes chairman. Tim Cook becomes CEO.Jobs has been dogged by a string of health problems in recent years that forced him to take periodic leaves of absence from the company. Jobs announced in January that he was taking an indefinite medical leave from Apple--his third in recent years--and handed over day-to-day responsibility to Cook.
In January 2009, Jobs said that he was suffering from a hormone imbalance that was impeding his body's ability to absorb certain proteins. In April of that year, Jobs underwent liver transplant surgery and returned to work by early July. In August 2004, Jobs underwent successful surgery to treat a rare form of pancreatic cancer, which sidelined him until September of that year.
In a separate note to Apple's board members and the Apple community, Jobs said that he was no longer up to the job of CEO.
"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," Jobs said.
Jobs concluded by saying that "Apple's brightest and most innovative days are ahead of it," and that he looks forward to contributing as Apple's chairman of the board, director, and Apple employee if the board allows it.
From the mid-1980s to the mid-1990s, Jobs was absent from Apple after a conflict with the board over leadership style. Since his return to Apple in 1997, Jobs has rebuilt the company he co-founded with Steve Wozniak, taking it from near bankruptcy to the most influential consumer electronics company in the world. With more than $76 billion in the bank, Apple now has the second-highest market capitalization in the world, behind ExxonMobil, which it briefly surpassed earlier this month.
Beyond theMac lineup of desktops and laptops, Jobs has transitioned the company into the entertainment business with iTunes and theiPod, and into a leading mobile phone maker with theiPhone. Last year, Apple introduced the touch-screen iPad, which has created a third mobile device category and a success that all of Apple's competitors have recently flocked to try to reproduce.
Cook, 50, joined Apple in 1998 and was promoted to COO in 2004. He has long been Jobs's right-hand executive, heading up shareholders meetings, earnings calls with Wall Street investors, and as a figurehead at product introductions.
CNET managing editor Jonathan Skillings and former CNET reporter Erica Ogg contributed to this story.
Updated at 4:19 p.m. PT with additional information throughout.
Read more: http://news.cnet.com/8301-27076_3-20096895-248/steve-jobs-steps-down-from-apple/#ixzz1Vzf6nLII
Jobs introducing the iPhone 4 last year.
(Credit: James Martin/CNET)The Steve Jobs era
Some notable moments for Jobs and his companies over the years.1976
Co-founds Apple with Steve Wozniak.
1984
Apple introduces the Mac.
1985
CEO John Sculley engineers Jobs' ouster from Apple.
1985
Founds Next Computer (later becomes Next Software).
1986
Buys computer graphics division of LucasFilm, to be renamed Pixar.
1996
Returns to Apple as adviser when Apple buys Next Software
1997
Named interim CEO of Apple.
2001
Apple introduces iTunes software and the iPod; the iTunes store follows in 2003.
2006
Disney buys Pixar; Jobs becomes largest shareholder.
2007
Apple introduces the iPhone.
2009
Takes 6-month leave of absence for medical reasons.
2010
Apple introduces the iPad.
January 2011
Takes medical leave of absence.
August 2011
Resigns as CEO, becomes chairman. Tim Cook becomes CEO.
In January 2009, Jobs said that he was suffering from a hormone imbalance that was impeding his body's ability to absorb certain proteins. In April of that year, Jobs underwent liver transplant surgery and returned to work by early July. In August 2004, Jobs underwent successful surgery to treat a rare form of pancreatic cancer, which sidelined him until September of that year.
In a separate note to Apple's board members and the Apple community, Jobs said that he was no longer up to the job of CEO.
"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," Jobs said.
Jobs concluded by saying that "Apple's brightest and most innovative days are ahead of it," and that he looks forward to contributing as Apple's chairman of the board, director, and Apple employee if the board allows it.
From the mid-1980s to the mid-1990s, Jobs was absent from Apple after a conflict with the board over leadership style. Since his return to Apple in 1997, Jobs has rebuilt the company he co-founded with Steve Wozniak, taking it from near bankruptcy to the most influential consumer electronics company in the world. With more than $76 billion in the bank, Apple now has the second-highest market capitalization in the world, behind ExxonMobil, which it briefly surpassed earlier this month.
Beyond theMac lineup of desktops and laptops, Jobs has transitioned the company into the entertainment business with iTunes and theiPod, and into a leading mobile phone maker with theiPhone. Last year, Apple introduced the touch-screen iPad, which has created a third mobile device category and a success that all of Apple's competitors have recently flocked to try to reproduce.
Cook, 50, joined Apple in 1998 and was promoted to COO in 2004. He has long been Jobs's right-hand executive, heading up shareholders meetings, earnings calls with Wall Street investors, and as a figurehead at product introductions.
CNET managing editor Jonathan Skillings and former CNET reporter Erica Ogg contributed to this story.
Updated at 4:19 p.m. PT with additional information throughout.
More to come. In the meantime, here's the full press release from Apple:
Tim Cook Named CEO and Jobs Elected Chairman of the Board
CUPERTINO, Calif.--(BUSINESS WIRE)--Apple's Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple's Chief Operating Officer, as the company's new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.
"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."
"Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company," said Art Levinson, Chairman of Genentech, 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."
"The Board has complete confidence that Tim is the right person to be our next CEO," added Levinson. "Tim's 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does."
Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.
As COO, Cook was previously responsible for all of the company's worldwide sales and operations, including end-to-end management of Apple's supply chain, sales activities, and service and support in all markets and countries. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
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