His letter to the Board 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.
Whether this resignation has been brought about by recurring health issues, a desire to spend more time with his family, or new obligations as Batman, this will have a negative effect on Apple’s valuation.
I’d argue this is unwarranted. While Tim Cook, Jobs’s replacement, lacks his showmanship and has a mildly strange voice, he clearly knows what he’s doing. Jobs made a mistake in appointing John Sculley to Apple in the 80s: I am highly sceptical that he would make a similar mistake again.
Like his business tactics or hate them, one cannot deny that Mr Jobs, along with Steve Wozniak and Bill Gates, are true visionaries and pioneers of our time. Given the exciting transitions the industry is going through towards a “post-PC” (or “PC-plus”) dominated consumer market, Apple is in an extremely strong position. The fact Jobs will still have an advisory role for the foreseeable future only bolsters the fact that Apple, as a company, will remain a prominent part of the industry’s landscape for many years to come.


