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In what appears to be one of the major upsets in the tech industry, Steve Jobs, has resigned as the CEO of Apple and has handed over the executive lead to Apple COO Tim Cook who shall now be operating as the new CEO of Apple.

On his resign, Steve Jobs sent the following letter to the Apple Board of Directors.

To the Apple Board of Directors and the Apple Community:

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.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO 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.

Steve

The main reason for such a major upset could be due to the declining health of Steve Jobs.

It is needless to say that he founded and served as the CEO of the one of the most innovative and valuable companies the world has ever seen and all we have for him is total respect. Earlier he was labeled as the ‘Person of the Year’ by The Financial Times.

A biohgraphy on Steve Jobs named ‘iSteve: The Book of Jobs’ is set to release early next year.

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