Apple co-founder Steve Jobs has announced that he is to step down as CEO of the company. It is thought the move is a result of the 56 year old's health problems following his battle with pancreatic cancer and undergoing a liver transplant. Current Apple COO Tim Cook will succeed him as CEO while Mr Jobs will take on the role of the company’s chairman.
In an announcement yesterday, Mr 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 added: "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." Apple’s share price fell five per cent as a result of his resignation. The legacy that he has created has earned him the admiration of his peers in the tech industry, including Google’s Eric Schmidt, who praised Mr Jobs as the most successful American chief executive in the last 25 years. Mr Schmidt said: "He uniquely combined an artist's touch and an engineer's vision to build an extraordinary company... One of the greatest American leaders in history." Mr Jobs has been the creative force behind some of Apple’s most innovative products, like the iPod, iPhone and iPad, renowned for their technical superiority and minimalist design. Analysts say customers will see no real difference in their products and Mr Jobs will likely still provide the same input he had when he was CEO. [email protected]