CEO Steve Jobs Resigns From Apple Inc. [BREAKING NEWS]

In a shocking announcement, Apple Inc’s CEO Steve Jobs announced his resignation from the company as the CEO. According to a press release issued by Apple Inc. CEO Steve Jobs submitted his resignation today to the board of directors. In it, he also “strongly recommended” that the they name Tim Cook as his successor to the CEO throne.

In his letter, CEO Jobs also 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.

The board accepted Steve Jobs’ resignation and elected him into the board as a Chairman. It also took Jobs’s recommendation and appointed the current COO Tim Cook as the new CEO. Although those shoes will be hard (impossible?) to fill Cook was widely considered as the top guy to succeed Steve Jobs when Jobs went on Medical leave earlier this year (January 2011).

What Does Steve Jobs Resignation Mean For Apple?

Although Steve Jobs has quit as the company CEO, Apple insiders close to him say that Mr. Jobs will continue to be active at Apple and will be closely involved in the company’s product strategy. Media sources watching Apple closely don’t expect that to change even after Mr. Cook takes over as the new CEO.

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I'm still around as chairman. Don't sweat it.

That said, the biggest challenge for incoming CEO Tim Cook is to convince the world that Apple can continue to succeed as it has without the presence of Steve Jobs.

Ever since he made his comeback into Apple Steve Jobs has been the visionary behind the company’s flagship products like iPod, iPhone, iPad and other hardware and software products.

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