Steve Jobs Resigns from Apple
Steve Jobs stepped down on Wednesday (24th August 2011) as CEO of Apple. The news came after Steve's long battle with cancer.
He announced his resignation in a brief letter:
"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."
Apple had been increasing market share and profit dramatically in the last 5 years as the iPhone revolutionised the smart phone industry and raised awareness of the Apple brand, allowing Apple to sell more of their desktop computers which had also seen dramatic improvements since the launch of OS10.
Without Steve at the helm, the future is uncertain for Apple - looking at the company's history, it's clear that Steve's is the main driving force behind the phenomenal growth, innovation and profit in recent years. So far though the share price has remained relatively unaffected at around $374.