Steve Jobs retires as CEO of Apple
24th August 2011
On 24th August 2011 Steve Jobs, co-founder of Apple, resigned as chief executive, saying he can no longer handle the job, but will continue to play a leadership role. He was 55 years old.
He founded the company 35 years before in his garage. He had been on medical leave from the company since January with an unspecified condition. In a letter to the Apple board, Jobs said: 'I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's chief executive, I would be the first to let you know.
'Unfortunately, that day has come. I hereby resign as chief executive 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.'
Jobs, who underwent a liver transplant in 2009 following a battle with pancreatic cancer in 2004, was the mastermind behind the iMac, iPod, iPhone and iPad, turning Apple into one of the most powerful companies in the world.
Many claim it was Steve's attention to detail that set Apple apart from its fierce competitors and feared the company may struggle to come-up with market changing ideas without its charismatic leader.
In early August 2011, Apple became the most valuable company in America although stock value quickly fell by 5.4% after Steve's announcement.
Tim Cook, Apple's chief operating officer, took over from Jobs as CEO of Apple.