Mr Jobs dropped out of college in 1976, and has been building up, and improving his status at Apple. Mr Jobs, who has fought a long-running battle with cancer, resigned from his position of CEO (Chief executive officer), after sending a letter to the board. Mr Jobs quotes;
“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 – Steve.”
Jeffrey Fidacaro of the Susquehanna financial group said: “It’s a prudent move to name a successor that is Tim Cook.
“I don’t think Wall Street will find that unexpected. It’s nice to get a succession plan in place with Steve Jobs still at the helm of the board and guiding Tim Cook.”
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