Chief Executive and co-founder of Apple, Steve Jobs, has resigned from his role and will be replaced by Tim Cook, formerly Chief Operating Officer. Following the announcement Apple shares took a nose dive of 5% on the New York trading market Nasdaq; however analysts do not predict a further fall as there is confidence in Mr Cook and his vision for Apple.
Mr Jobs was on medical leave from January 2011, and he underwent a liver transplant earlier this year due to suffering from pancreatic cancer. The illness and recovery meant he could no longer fulfil his duties and therefore resigned, however, he will still be involved with Apple as the Chairman.
Mr Jobs informed the Board that he will “look forward to watching and contributing to its success in a new role”. In response, an Apple board member said “Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company.” A fitting tribute to a worthy and outstanding individual.
We have no doubt that customers will continue to pledge their allegiance to the company, especially as the iPhone 5 and iPad 3 will be released…just in time for Christmas. Now, who has spotted Christmas decorations in the shops already?