Steve Jobs Resigns – Want to Stay On As Chairman

  • Wants to continue as Chairman
  • Reason for resignation unknown at this stage
  • Nominates Tim Cook to take over

The Wall St Journal is reporting that Steve Jobs has resigned his position as CEO of Apple, the company he co-founded and brought back from the brink of bankruptcy when he returned in 1996 after being fired in 1985.

The following is the press release first published in the WSJ.

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.

I believe Apple's brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Jobs has been dogged by health issues over the past decade including a fight with pancreatic cancer and a liver transplant. It is not known if it is health issues that has seen him step down, or whether there are behind-the-scenes reasons.