Apple’s CEO has announced that he can no longer fulfill the duties and expectations required of him. The man who’s vision has revolutionized not only gaming but many facets of the technology world issued the letter of resignation late on Wednesday. Jobs who has battled illness, and taken multiple leaves of abscence in recent years leaves Apple in the hands of Tim Cook. Cook who handled the CEO duties during these leaves of abscence is no new comer to the position.
Jobs will remain on the company’s board of directors and also issued statement regarding his resignation.
“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,” Jobs said. “Unfortunately, that day has come.”
Apple who enjoys the largest market capitalization in the world, took a big hit in after hours stock trading on Wednesday night. The company stock (AAPL) traded down over 5% on the news. Investors will look to Cook for reassurance that he can continue the winning ways for the company.
Published: Aug 25, 2011 05:00 am