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.

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
Sources: Businesswire, Apple
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65 Comments on Steve Jobs Hangs His Boots as Apple CEO

#51
erocker
*
Any more of this off topic garbage or posts about one another are going to lead to infractions. This means I better not see any of what I just stated below this post.
Posted on Reply
#52
[H]@RD5TUFF
Anyone else think him being appointed as head of the board of directors was an attempt to stay off the stock dropping ( which didn't seem to happen)?
Posted on Reply
#54
FordGT90Concept
"I go fast!1!11!1!"
Well, that's surprising:

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.
Posted on Reply
#55
[H]@RD5TUFF
FordGT90ConceptWell, that's surprising:

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.
One can only hope for a repeate!:D
Posted on Reply
#56
Steevo
Would you expect one of the most spincentric companies on the face of the planet to put negative spin out about any change, good or bad?


Say that while holding your phone just right, or risk a dropped call.
Posted on Reply
#57
qubit
Overclocked quantum bit
Stocks have dipped less than 3% since the announcement. Here's an interesting article from TG Daily on the future of Apple:
While Jobs was arguably more valuable to his company than any other single CEO has ever been to a consumer electronics company, he is after all only a small part of the Apple story, especially the story of the 2010s and beyond.
TG Daily
Posted on Reply
#58
alucasa
An end of an era, that's all I would say.

I've never favored Apple products, but I cannot dislike Steve Jobs for what he has done. He is an icon.
Posted on Reply
#59
Peter1986C
reverzeRest in peace to those who died producing the iphone in inhuman conditions.
SteevoApple is nothing anymore but a patent troll company that uses Foxconn to make cheap shit in concentration camp style labor and them mark it up hugely. I hope Steve Jobs dies a painful death for the continued support of such vile labor practices.
That is not just Apple and the factories making their stuff, it is (almost) every electronics company that is doing it. Things like that should be "fixed" starting at the roots (bottom-up).
FrickThe world would collapse if everyone did that.
I agree that our societies are on a foundation of hard underpaid and often outright dangerous jobs in the poor countries, e.g. mining work without even the most basic protection like helmets. When it comes to coffee, it seems to be changing positively (more brands bearing fair trade trademarks) but when it comes to minerals and ores things will be rather shady for at least another decade, probably.
Posted on Reply
#60
assaulter_99
Chevalr1cThat is not just Apple and the factories making their stuff, it is (almost) every electronics company that is doing it. Things like that should be "fixed" starting at the roots (bottom-up).
Sadly, with globalization, I don't see that coming. Every company does that, from Apple to Nike. People will whine about not buying stuff from said companies, but how could you know that what you bought didn't use child labor et al? At the end of the day, companies will only look for bigger profits. And its not like they are sponsoring that, companies that are in the dark side of the law are mostly sub contractors (So the mother company has an excuse to say "oh we didn't know that")
Posted on Reply
#61
Steevo
assaulter_99Sadly, with globalization, I don't see that coming. Every company does that, from Apple to Nike. People will whine about not buying stuff from said companies, but how could you know that what you bought didn't use child labor et al? At the end of the day, companies will only look for bigger profits. And its not like they are sponsoring that, companies that are in the dark side of the law are mostly sub contractors (So the mother company has an excuse to say "oh we didn't know that")
Apple has been caught multiple times.

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.
Posted on Reply
#62
pr0n Inspector
18 out of over 400k. Mostly young people. Likely from rural China coming to the city to make money to send home. Likely to be the only child. "post-'80s". "post-'90s". "non-mainstream" emo kids. Pay is actually pretty good by Chinese standards for what is essentially unskilled labour.
Posted on Reply
#63
heky
Unskilled labour for assembling iPhones and Ipads, and they(Apple) call it high-tech. Lmao
Posted on Reply
#64
pr0n Inspector
hekyUnskilled labour for assembling iPhones and Ipads, and they(Apple) call it high-tech. Lmao
OMG that was so clever!:rolleyes:
Posted on Reply
#65
Completely Bonkers
Steve Jobs, whether you liked him or not, had plenty of charisma and was a good spokesperson and presenter. He was a likeable to the masses. That's important.

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.
Posted on Reply
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