Steve Jobs resigns from Apple, Cook becomes CEO !

Posted on Thursday, August 25, 2011 by Unknown

Founder of Apple, Steve Jobs on Wednesday resigned as chief executive of Apple Inc ending his 14-year reign at the technology giant he co-founded in a garage.

"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," said Steve Joba in a brief letter announcing his resignation.

As a result Apple shares immediately fell by 7%

Steve Jobs who survived pancreatic cancer and came back for a short while from his industry leave for the debut of iPad has since been on a medical leave for an undisclosed condition since January 17, will be replaced by COO and longtime heir apparent Tim Cook.

"I will say to investors: don't panic and remain calm, it's the right thing to do. Steve will be chairman and Cook is CEO," said BGC Financial analyst Colin Gillis.

So now this is one of the biggest technology industry news in recent times.

We will definitely miss this industry changing icon.