Steve Jobs resigns as Apple CEO: analysis
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What does the departure of Steve Jobs mean for Apple and the technology industry? Shane Richmond explains.
Steve Jobs is one of the founding figures of the modern computer industry. He has twice run Apple: once from its creation in 1976 until he was ousted in 1985, and again, 20 years later, when he returned to rescue a company on the brink of collapse. Turning the company around and presiding over the release of one hit product after another, from the iMac and iPod, through to the iPhone and iPad, is perhaps Jobs’s greatest achievement.
Eleven years ago, another of the modern computer industry’s founders, Bill Gates, stepped aside from his role as chief executive of the company he had founded. However, Gates’s resignation came in happier circumstances. The Microsoft chief executive planned to work instead on his charitable foundation.
In contrast, Steve Jobs, in a letter to the Apple board, said that he is resigning because he “could no longer meet my duties and expectations as CEO”. In 2004, Jobs announced that he had pancreatic cancer, and in 2009 he underwent a liver transplant. At the beginning of this year, he went on medical leave again. This, then, is how Steve Jobs’s third medical leave of absence ends: with Jobs replaced by Tim Cook, who was until yesterday, acting CEO, and Jobs serving as Chairman.
Each time Jobs went on medical leave it was Cook who took over, so this decision should not be a surprise. With Cook at the helm Apple has continued to release products and to grow in a way has astounded investors. Early reaction from investors and analysts suggests that the market will greet the news calmly.
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