Steve Jobs Resigns as Apple CEO

Just reported by Bret Baier. More information when I get it.

Added: Reuters says that the Jobs "has been on medical leave for an undisclosed condition since January 17." He had been suffering from pancreatic cancer. Jobs has been named chairman. Tim Cook is to replace him as CEO.

From the Washington Post:

Steve Jobs has said that he intends to return to the company he founded at the end of June, after a five-month leave he is taking to fight the illness that has left him with a gaunt appearance. In the meantime, Apple will be helmed by Cook, a respected manager little known outside Silicon Valley.

"I know he and the rest of the executive management team will do a great job," Jobs wrote in an e-mail distributed inside the company Wednesday.

The early consensus, among some analysts and Mac fans, is that Cook is an able administrator, though not necessarily one with the sort of salesmanship skills or industry-bending vision as his boss.

Business Insider has Jobs' letter to the board:

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

posted by rdbrewer at 06:43 PM

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