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Steve Jobs hangs up his boots as CEO of Apple |
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Steve Jobs, the co-founder and iconic CEO of computer company Apple who is widely heralded with the company's turnaround and success, has decided to hang up his boots.  Jobs started Apple Computer in his parent's garage in 1976 after dropping out of college. He helped, via his innovations and inventions, grow Apple into a multi-billion company while notching up a personal fortune of $8.3 billion, as per data from Forbes. He has been cited as a person living the American Dream by President Obama in December 2010 while responding to a question about the divide between middle-class and wealthy Americans. Apple’s Board of Directors has announced that Jobs resigned as Chief Executive Officer. The Board also named Tim Cook, previously Apple’s Chief Operating Officer (COO), as the company’s new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately. In a letter addressed to the Apple Board of Directors and the Apple Community, 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 CEO, I would be the first to let you know. Unfortunately, that day has come.” He added that he believed Apple’s brightest and most innovative days to be still ahead of the company, which he would like to watch and contribute to its success in his new role as “Chairman of the Board, director and Apple employee.” “Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. He also reposed his faith in Tim Cook who takes over the reigns of the company from Jobs, saying his 13 years of service to Apple “have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.” As COO, Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace. |
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