Steve Jobs resigned as CEO of Apple, leaving the company with the challenge to continue its success without him, while an earthquake hit the east coast jamming phone lines in the process.
Steve Jobs Resigns, Apple Moves On
Steve Jobs resigned from Apple saying he could no longer meet the duties and expectations of being the company's CEO. He was granted a request by Apple's board to stay on as chairman.
Jobs' resignation comes as he continues to struggle with health issues. In January, he took his third medical leave from Apple and has looked thin and frail in his few public appearances since. Jobs has battled health problems since August 2004 when he announced he was in remission from pancreatic cancer.
Apple's COO Tim Cook, who filled in for Jobs during each of his medical leaves, will become CEO. Cook has been with Apple for more than a decade, and was Job's personal recommendation to take over the company.
Cook will have big shoes to fill as he faces heated competition from Google in the mobile market and tackles how to expand Apple's business into China and India.
Cook publicly announced Apple's culture won't change under his leadership, but many analysts worry the company will lose its edge with Job's departure. Jobs had a strong hand in the design of some of the company's most successful products, such as the iPod, iPhone and iPad.
But while Jobs had final say on product design, senior vice president of industrial design Jonathan Ive may be the true genius behind Apple's products. Ive has been part of the company's design team since 1998 and is reportedly just as much responsible for the design of the unibody Macbooks, iPad, iPod and IPhone as Jobs.
Despite Cook's strong credentials and the presence of Ive on design, Apple's investors criticized the board for not providing enough detail regarding CEO succession plan. Investors say there isn't enough transparency, while
Apple maintains it keet plans secret so competitors wouldn't capitalize on it.
Regardless, succession plan is already in motion, leaving Jobs' peers to reflect on his work. Apple co-founder Steve Wozniak said Jobs was the "greatest technology business leader of our time."
Jobs leaves behind a legacy that may shape the future of technology. He brought a "software-first" mentality to products that helped flagship devices like the iPod, iPhone and iPad become benchmarks for other companies' successes.
With Jobs out of the picture, rivals are gearing up for a window to catch up. Samsung, Apple's closest rival, is set to make a push with its line Galaxy smartphones and tablets.
