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| Steve Jobs (co-founder of Apple) |
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| Tim Cook & Steve Jobs |
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| Timothy D.Cook (the new CEO of Apple) |
Mr. Jobs, who underwent a liver transplant following pancreatic cancer, said he could no longer meet his chief executive's duties and expectations.The Silicon Valley legend will become chairman of the firm.The 56-year-old has been on medical leave for an undisclosed condition since 17 January.
"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," he said in a brief letter announcing his resignation.
I will say to investors: don't panic and remain calm, it's the right thing to do. Steve will be chairman and Cook is CEO," said BGC Financial analyst Colin Gillis.
"Investors are very comfortable with Tim Cook even though Jobs has been a driver of innovation and clearly an Apple success. Tim has shown Apple can still outperform extremely well when he's been acting as CEO," said Cross Research analyst Shannon Cross.
"I don't know if it's a health issue. I don't know if it is a shock. Most likely it was going to happen at some point. Why today versus another day? I don't know."
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