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The MacValley blog
Editor: Tom Briant
Wednesday, August 24, 2011
Steve Jobs resigned as CEO of Apple, Inc. today.
He released a letter he could not fulfill his duties.
I’m sorry to see Steve go. I wish him well. We all wish him well.
As for Apple, the departure of its iconic CEO does NOT leave it in a state of disarray. The letter refers to a succession plan. Tim Cook, formerly the Chief Operating Officer, now assumes the formal title of CEO. He had functioned as CEO in Steve’s absence.
Apple has a successful range of products from the iPod nano to the Mac Pro, from OS X Lion to Final Cut Pro X. It has NOT blown $100 million dollars on a half-baked product trying to compete with its chief consumer rival. (I’m looking at you, Leo Apothker of HP, and wondering if your board thinks it’s time for you to go)
It appears that health concerns have answered the rhetorical question I posed some months back. Does Steve Jobs want to stay as CEO of Apple until he’s 65,75, heck, 85? American corporate history is full of corporate chief executives who stayed on well beyond their peaks. Their corporations suffered as a result.
It is also fortunate that Steve has not groomed any of his children or family members to take his place as CEO. Familial succession at IBM in the case of the Watson family worked. Once. Far better that Apple’s succession should depend on merit.
I hope that Steve lives long enough to see OS XI.
Editor, MacValley Voice
Full text of Jobs's letter
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.