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BREAKING NEWS: Steve Jobs Resigns

Apple's chief executive steps down, saying he can 'no longer meet my duties and expectations as Apple's CEO.'

Will the news of Steve Jobs stepping down as CEO upset the Apple cart? It’s too soon to tell as the news was announced Wednesday.

In his resignation letter—as it appears on CNNMoney and the Wall Street Journal—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 asks the board to keep him on in the capacity of “chairman of the board, director and Apple employee.”

Jobs has been on medical leave since January but makes no mention in his letter if health matters were a factor in his resignation.

Replacing Jobs at the helm is Tim Cook, the company’s chief operating officer.

Jobs is credited with turning around the company that nearly faced bankruptcy about 13 years ago.

andrea tan August 25, 2011 at 12:44 AM
sadness! i think the stock will tank but come back up. hope he gets a much deserved break.
db August 25, 2011 at 03:55 AM
What a week! Earthquake on the east coast, and world turned upside down on the west. May everyone emerge unscathed.
Anne Ernst August 25, 2011 at 04:33 AM
Apple's a strong company, I'd have to think Andrea is right that there may be a dip, but it will come back. Steve Jobs does deserve some rest, wouldn't you agree?
thorisa yap August 28, 2011 at 05:23 AM
Yes, I agree with you 100%...thanks for sharing this story... How can we send him a Cheer card? I am sure many people want to wish him well. I myself will be Happy to do this.
Juan August 28, 2011 at 05:19 PM
Steve jobs will remind all creative heads that he was never influenced by politics, but by humanity.

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