Breaking News: Steve Jobs Resigns As CEO Of Apple

Steve Jobs has announced his resignation as CEO of Apple. This might not necessarily movie or television news per se, but Steve Jobs served as chief executive of Pixar Animation Studios, is Disney's largest individual shareholder (with approximately 7% of the shares) and became a member of the board of directors of The Walt Disney Company in 2006. Jobs also helps to oversee Disney and Pixar's combined animation businesses with a seat on "a special six-man steering committee." The products he has overseen have changed the way movies are made and seen. /Film would not be where it is right now without the products he has helped create, and the business and creative ideologies he has helped design.Reuters is reporting that Jobs has already been named chairman, and that Tim Cook has already been elected CEO. No word on how this will effect his jobs on the board of Disney or his special seat on the six person Pixar/Disney animation trust. I assume that since Jobs will remain at Apple as chairman that his Disney duties will not change as they are not as taxing as a CEO position. That is only speculationRead Steve's public letter of resignation and the press release after the jump.Letter From Steve Jobs

CUPERTINO, Calif.–(BUSINESS WIRE)– 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.


Press Release

CUPERTINO, Calif., Aug 24, 2011 (BUSINESS WIRE) — Apple's Board of Directors today announced that Steve Jobs has resigned as Chief Executive Officer, and the Board has named Tim Cook, previously Apple's Chief Operating Officer, as the company's new CEO. Jobs has been elected Chairman of the Board and Cook will join the Board, effective immediately.

"Steve's extraordinary vision and leadership saved Apple and guided it to its position as the world's most innovative and valuable technology company," said Art Levinson, Chairman of Genentech, on behalf of Apple's Board. "Steve has made countless contributions to Apple's success, and he has attracted and inspired Apple's immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration."

"The Board has complete confidence that Tim is the right person to be our next CEO," added Levinson. "Tim's 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does."

Jobs submitted his resignation to the Board today and strongly recommended that the Board implement its succession plan and name Tim Cook as CEO.