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article imageSteve Jobs resigns as Apple CEO

By John Louie S. Ramos     Aug 24, 2011 in Technology
Business magnate and Apple co-founder Steve Jobs has stepped down as the Chief Executive Officer of Apple. Jobs will stay on as the company's Chairman of the Board.
The company's board of directors announced Jobs' resignation and immediately named Chief Operating Officer Tim Cook Apple Inc.'s new CEO.
Yahoo! Finance reports that Jobs has been elected Chairman of the Board and will assume his new position immediately.
In his resignation letter, Jobs said the day has come when he could "no longer meet the duties and expectations" of being Apple's CEO.
He also recommended Cook as his replacement.
Jobs founded Apple Inc. along with Steve Wozniak and Ronald Wayne in 1976.
Since then, the company expanded each year and is now one of world's leading manufacturer and distributor of consumer electronics and computers.
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