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Steve Jobs resigns as CEO of Apple

posted 25 Aug 2011, 05:34 by Mpelembe   [ updated 25 Aug 2011, 05:36 ]
Apple CEO Steve Jobs will hand over the reins of the world's largest technology company to Tim Cook but will stay on as chairman. Deborah Gembara reports.

USA-APPLE/STEVE JOBS - Silicon Valley legend Steve Jobs is stepping down as the CEO of Apple and will be replaced by his righthand man Tim Cook.

Jobs is considered the heart and soul of the company and is credited with bringing Apple back from the brink and turning it into the world's largest technology company.

Under his leadership, Apple was able to establish itself in both the cellphone and digital music markets --- a barrier few other companies have done nearly as successfully.

Jobs, who fought and survived a rare form of pancreatic cancer, emerged from his medical leave in March to unveil the latest version of the iPad.

Cook, the longtime No. 2 at Apple is believed to share Job's vision for the company.

Analysts do not expect Jobs' resignation -- which was more a question of when than if -- to derail Apple's fabled product-launch roadmap. A new iphone is expected this fall and a new iPad could be unveiled in 2012.

Deborah Gembara, Reuters.