Fast Company

Apple CEO Steve Jobs Resigns, Picks Tim Cook As Successor

The creator of the iPod and iPad who forever changed the way we think about computers announced his resignation today. In a letter to the board of directors, Apple CEO Steve Jobs wrote, "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.

Current Apple COO Tim Cook has been named his successor. Jobs will become chairman of the board of directors. 

Whether or not his health played a role in his decision to step down is unclear, though likely. In January, Jobs took a medical leave of absence, leaving Cook in charge of day-to-day operations.

Apple's string of successes will continue in a post-Jobs world, but the sustainability of Apple's phenomenal success without the visionary leader has been a serious question for investors and consumers alike. Jobs is largely credited with reviving Apple, taking it from a bankrupt underdog to the world's most valuable company in a little over a decade, with the launch of revolutionary products such as the iMac, iPod, iPhone, and iPad.

Ending his letter, Jobs concluded on an optimistic note.

"I believe Apple’s brightest and most innovative days are ahead of it," he said. "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."

Here's a look back at some of our earlier coverage of Steve Jobs and his reign at Apple.

Invincible Apple: 10 Lessons From the Coolest Company Anywhere

Steve Jobs's Strategy? "Get Rid of the Crappy Stuff"

Yes, Apple Can Survive Without Steve Jobs

All Eyes On Apple

The Tao of Steve

If He's So Smart... Steve Jobs, Apple, and the Limits of Innovation

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