Steve Jobs resign as CEO of Apple

I guess a lot would really be shocked with one of the most breaking news of Apple - Steve Jobs, one of the biggest drivers of innovation in technology from Apple, is set to resign and will be replaced by Tim Cook, the current COO (Chief Operating Officer) of Apple. 

The Wall Street Journal says the timing of the announcement, however, was a surprise and raised questions about the health of Jobs, who was diagnosed with a rare form of pancreatic cancer in 2004 and underwent a liver transplant two years ago.

Still, it seems unlikely the board would have named Jobs chairman if his health had entered a new, more serious phase.

In late trading, Apple's stock recently sold for $355.50, down $21, or 5.5%. It closed in regular trading at $376.18, up 2.6%.

Letter From Steve Jobs:

from Steve Jobs

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.

Steve 

When I first heard about Steve Jobs' resignation, I felt sad for Apple. He was truly an inspiring man. He lead Apple into a good fight. I can really say that he was Apple and Apple was him. If you guys are wondering why did he resign, the reason was because of his sickness, although it wasn't really specified what it is. I've researched that Jobs battled from cancer back then and had a liver transplant, but his main reason for resignation remains a mystery.

Through the resignation letter of Jobs, there are 3 things that we can use to prove that Apple can still be successful:

1. "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." - Steve Jobs wants to be Chairman and still be part of Apple.
2. "As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple." - Tim Cook is said to be the most eligible person to be the CEO of Apple. Because he is the COO of the company, he knows the overall flow of the company's worldwide sales and operations.
3. Jobs may be the face of Apple but Apple's success does not revolve around him. There are people behind Apple's success that is/are not recognized until today, and that includes Mr. Cook.

I just hope that Apple can still keep its momentum even though Jobs is gone. Tim Cook, you're the man now. Prove us wrong. Prove to us that Apple can still survive, with or without Steve Jobs