Steve Jobs, the ailing tech visionary who founded Apple Inc., said he was unable to continue as chief executive of the technology giant and handed the reins to Chief Operating Officer Tim Cook.
Steve Jobs has spent his career challenging conventions about personal computing. He's transformed an industry and changed the way we think about technology. A look back at the accomplishments of an American business icon.
Apple said Mr. Jobs submitted his resignation to the board of directors on Wednesday and "strongly recommended" that the board name Mr. Cook as his successor. Mr. Jobs, 56 years old, has been elected chairman of the board and Mr. Cook will join the board, effective immediately, the company said.
"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," Mr. Jobs said in his resignation letter. "Unfortunately, that day has come."
Art Levinson, chairman of Genentech and an Apple board member, said in a statement that the board "has complete confidence that Tim is the right person to be our next CEO." He added that Mr. Jobs will "continue to serve Apple with his unique insights, creativity and inspiration."
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