Apple's Steve Jobs Resigns as CEO

Date: 25 Aug 2011

Mr Apple, the hugely popular and influential Apple CEO has finally and officially resigned from his role as head of the company today.

Jobs has fought through a medical battle for the past 7 years, and has now decided that he is not in a position to provide the company with the level of commitment needed to continue as CEO. He will however remain as company chairman, giving input and direction to the company in the months to come.

Jobs announced:

"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.

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."

A much loved and very popular leader, perhaps investors in the company did not share the same level of optimism about the move - with share prices dropping more than 5% following the announcement.

Apple's current chief operating officer Tim Cook will take over as CEO - having stood in for Jobs in the past few months since his most recent leave from the company.