Steve Jobs is an inventor and inspiration for tech enthusiasts, and he is now the Chairman of the company he co-founded in a garage. He resigns as CEO (chief executive officer) of Apple Inc at age of 56. Tim Cook will now work as CEO of the company.
Steve Jobs has been on long medical leave since January 17 for undisclosed reason. On the other hand the company is also expected to introduce iPhone5 this September and Steve Jobs resigned before the date. He has been the driving force behind Apple’s innovative inventions and some experts believe that company will continue to amaze its audience with new inventions.
Tim Cook joined Apple in 1998 and has worked in some of the biggest computer industries such as IBM. He is a talented person and clearly understands Apple. Infact the reason of Steve’s resignation is still not clear but it is most probably due to bad health condition. Some experts also believe that Steve Jobs was suffering from pancreatic cancer in 2003 but was cured and he returned to work. But in 2009 Steve was diagnosed with tumor that spread to liver, which was transplanted by the doctors. Steve remained on six-month leave and now resigns as CEO.
Steve Jobs also wrote letter to board of directors stating that he is no longer able to perform his duties. He also recommended Tim Cook as CEO of the company. During his absence the company saw 7% drop in shares and increase in price of Apple products. Later under COO (chief operating office) Tim Cook the company received 60% increase in shares and board of directors awarded him with $5 million bonus for his outstanding performance.
