Steve Jobs: Chairman, Not CEO

This cannot be a surprise and probably has been in the works for many months. Apple’s co-founder and CEO, Steve Jobs, has resigned. COO Tim Cook will take over the CEO job. Obviously, Steve’s health is not improving, though he may be down, he’s not necessarily out.

Here’s the letter Jobs gave to Apple’s board of directors.

August 24, 2011–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.

This is a sad day for Apple watchers.