On August 23, 2011 after the stock market closed, Steve Jobs resigned as CEO of Apple (Apple charts and Quote) Inc. Apple's stock close Aug. 23 at $376.18. The next day, Apple stock opened at $365.08, down 2.95%. Below is the Steve Job's letter to Apples board of directors. (Source Apple Press Info)
August 24, 2011
Letter from Steve Jobs
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.Here is a chart showing the performance of Apple's stock year-to-date.
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.
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I'd like to wish Steve Jobs the best of luck in his new, reduced roll at Apple and hope his health improves so he can enjoy and long and happy life.