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.
Surprisingly, Apple stock only fell about 20 points–but then again, Jobs has been on so many medical leaves, is staying on as director and “employee,” and Tim Cook has a good track record, so I guess this is being taken as a very gentle roll instead of the bottom dropping out. Also, what with the iPad and iPhone going so strong, it’s kind of hard to be bearish about Apple anyway. I think it’s fairly safe to say that Jobs has done a pretty good job over the past 13 or so years imprinting his style on Apple’s corporate culture.