Thursday, August 25th 2011
Steve Jobs Hangs His Boots as Apple CEO
Regarded as the heart and soul of Apple Inc., Steve Jobs has decided to step down as the CEO of the company, making way for the board-elected Tim Cook to take up the position. This marks a graceful exit of one of the major architects of the technology industry as we know it. "Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company," notes a company press release. Jobs will stay on as the Chairman of the company he co-founded. His replacement, Tim Cook, has previously served as the COO of the company, with 13 years of service to the company in various positions.A letter written by the outgoing Apple CEO follows.
Sources:
Businesswire, Apple
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
65 Comments on Steve Jobs Hangs His Boots as Apple CEO
Apple investors happy with Jobs' successor
Apple shares didn't take a dive as expected (well it did, but recovered). They're going to give Cook a chance before pushing Apple under the bus. We'll see how that goes. Last time Jobs left (1990s), Apple almost declared bankruptcy.
Say that while holding your phone just right, or risk a dropped call.
I've never favored Apple products, but I cannot dislike Steve Jobs for what he has done. He is an icon.
www.msnbc.msn.com/id/37510167/ns/business-us_business/t/why-apple-nervous-about-foxconn/#.TlcPdKiwWEM
"We're all over this," Apple's Steve Jobs said at a tech conference on June 1. He called the suicides at Foxconn "very troubling."
www.washingtonpost.com/blogs/faster-forward/post/apple-partner-foxconn-confirms-third-death-cause-of-explosion/2011/05/23/AFnKVk9G_blog.html
"Apple responded to the explosion in a statement to All Things Digital, saying, “We are deeply saddened by the tragedy at Foxconn’s plant in Chengdu, and our hearts go out to the victims and their families. We are working closely with Foxconn to understand what caused this terrible event.”
www.telegraph.co.uk/technology/apple/8674707/Apple-manufacturer-Foxconn-replaces-staff-with-robots.html
"Observers speculated that the move to mechanise the production line could be a result of rapidly rising wages in South China, where a shortage of workers has resulted in demands for more money and more benefits. Some factories have reported wages rising by 30 per cent to 40 per cent this year, making it harder for them to turn a profit on cheap, mass production. "
www.apple.com/pr/library/2010/01/25Apple-Reports-First-Quarter-Results.html
"CUPERTINO, California—January 25, 2010—Apple® today announced financial results for its fiscal 2010 first quarter ended December 26, 2009. The Company posted revenue of $15.68 billion and a net quarterly profit of $3.38 billion, or $3.67 per diluted share. These results compare to revenue of $11.88 billion and net quarterly profit of $2.26 billion, or $2.50 per diluted share, in the year-ago quarter. Gross margin was 40.9 percent, up from 37.9 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue. "
3.38 Billion for Apple, 60 Billion for Foxconn and, hey, they are only people right? 18 people should NOT get in your way to making billions in profit.
But I have just died a death of boredom listening to the first minutes of a presentation by the new CEO whateverhisnameis.
events.apple.com.edgesuite.net/11piuhbvdlbkvoih10/event/index.html
This guy had better resign or Apple is going to nose dive. They will lose "brand" and they will lose talent with his guy at the helm. NEVER, and I mean NEVER did I think Balmer was good, until today! At least he has got some adrenaline, bells, balls and whistles compared to the new Apple CEO whateverhisnameis.
I'm shorting the stock after seeing this video.