Jobs resigned because he said he “could no longer meet my duties and expectations as Apple’s CEO” but will now take the role of chairman of the board at Apple.
According to reports, Jobs stepping down was caused by ill health, as the technology firm’s former head has been battling cancer over the past few years.
Jobs submitted his resignation last night in the form of a letter, suggesting that Cook take over as CEO.
Art Levinson, chairman of Genetech, who responded on behalf of Apple’s board confirmed Jobs would remain involved in the firm.
In his new role as chairman of the Board, Jobs will continue to serve Apple with his “unique insights, creativity and inspiration,” said Levinson, “The Board has complete confidence that Tim is the right person to be our next CEO.”
Apple is rumoured to have a new version of its iPhone range due out in the next few months, iPhone 5, but reports suggest that it is in too mature stages to be affected by Jobs resignation.
Jobs co-founded Apple in 1976 with Steve Wozniak but left the company in the mid 80s, returning in 1996 to lead Apple towards being one of the worlds most valuable companies, launching products including iMac, iPod and iPhone.
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