Steve Jobs Resigns as Apple CEO
Cites ability to perform his duty as primary reason, will remain as chairman.
Apple CEO Steve Jobs has resigned and will be replaced by Tim Cook, the former Chief Operating Officer. Jobs will remain as chairman. Although Jobs made no specific mention of his health in his letter of resignation, but it is widely thought to be the leading factor.
Steve Jobs resigned as CEO of Apple on Wednesday. He will remain as chairman of the board.
Apple's board reacted to the resignation by praising the work Jobs has done. They were also quick to point out that Jobs would remain as chairman of the board and that his insight will remain.
Jobs co-founded the Apple brand in 1976 with Steve Wozniak while the two were working out of his family's garage.
Jobs is widely credited with reversing Apple from its decline in the early 90's to its astounding success today, which began when he retook the post of CEO in 1996. Over the last 14 years, Jobs has directed the overhaul of Apple products making them sleek and visually appealing compared to their PC counterparts.
Apple has a strong reputation for greater reliability and is a virtual status symbol for the counter-culture and the left of the political mainstream. Jobs also oversaw development of the iPod with its accompanying iTunes application and the wildly popular iPad.
Although Jobs is officially stepping down, his replacement, Tim Cook has been filling his position for several months. Additionally, analysts say Jobs has built up the Apple brand and development teams so well that the company should function equally well despite his change in roles. However, the market may disagree. Apple shares have reacted to the news by dropping 5 percent.
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Pope Benedict XVI's Prayer Intentions for January 2013
General Intention: The Faith of Christians. That in this Year of Faith Christians may deepen their knowledge of the mystery of Christ and witness joyfully to the gift of faith in him.
Missionary Intention: Middle Eastern Christians. That the Christian communities of the Middle East, often discriminated against, may receive from the Holy Spirit the strength of fidelity and perseverance.
Keywords: Steve Jobs, Apple, resign, health
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