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Apple CEO Steve Jobs Resigns

This is definitely the end of an era.

Apple CEO, founder and executive chief officer Steve Jobs has resigned after 14 years in his position. The reason is most likely his health problems; he was previously diagnosed with pancreatic cancer and has been on medical leave since January.

His official resignation letter reads:

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

According to multiple news sources, company shares dived as much as 7% after his announcement. Does this mean that people don’t have faith in Cook? What do you think of this news?

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