Steve Jobs Resigns From Apple

[Dominus Atheos]

Ars Technica

In a surprise announcement Wednesday evening, Apple's Board of Directors announced that Steve Jobs is resigning as CEO as the company. Apple's Chief Operating Officer, Tim Cook, has been named Jobs' successor and plans to begin taking over as CEO effective immediately.

"Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company," Apple Board member and Genetech chairman Art Levinson said in a statement. . "Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration."

In 2004, Jobs underwent a complicated but successful surgery to remove a tumor in his pancreas, and was back at work within a few months. While the procedure is highly successful for the form of pancreatic cancer that Jobs had, it also removes much of the pancreas and some of the digestive tract. This can lead to further complications, such as the dramatic and visible weight loss Jobs' suffered in 2008.

In 2009, Jobs went on a six-month medical leave again; it was later revealed that Jobs had received a liver transplant. All seemed well after his return until January of 2011 when Jobs announced once again that he was going on medical leave—this time, the Apple fans had a feeling he might not be back.

Below is the text of Jobs' letter addressed to the Board and the Apple Community that was distributed on Wednesday evening:

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.

Steve

Whoa

[Lord Zentei]

Well, that came out of the left field.

I didn't know he had health problems of that magnitude.

[Chirios]

And US Stocks dropped a few points.

[Broomstick]

Doesn't surprise me a bit - 7 years surviving post pancreatic cancer? He has very much beaten the odds. Overall, only 6% survive 5 years, and best-case (localized cancer) 5 year survival is still only 20%. He's been lucky, but the surgical procedure he had has profound side effects, and that, combined with age, made it inevitable that he'd have to step down before too long with or without a return of cancer. Add in a liver transplant, and the side effects from the medication from that, and Mr. Jobs has been in poor health for years. Yes, he continued to work and did many things, which is a testament to modern medicine and the benefits of using it, but as I said, this comes as no surprise to me.

I hope he still have a few more years in which to enjoy retirement.

[Enigma]

{snip}

I hope he still have a few more years in which to enjoy retirement.

I hope so too but in reality I doubt he has that much time. He loved the company and helped make Apple a huge success. He stuck around until it was absolutely necessary to step down but even then if you've read the article he still wants to work at Apple. He has too much passion for Apple and it would take a threat of imminent death for him to quit as CEO. Had he stood down when he was treated for pancreatic cancer then I'd believe he'll have many more years to come.

But right now? Personally, I'd say he'll have at most a year.

This reminds me of the Jack Layton thread. He was a political leader and was treated for cancer (forgot what type), then had hip surgery. Yet he stayed on. He only stepped down (albeit at the time as a temporary measure) when he was diagnosed with another type of cancer. Few weeks after stepping down, he died. He loved his job and was quite passionate about it. But it took its toll.

[Big Orange]

I doubt Apple will be the same or be as successful after Steve Jobs has gone and it sadly sounds like he's not long for this world, looking pretty bad at just 56. It's a miracle he's survived for many years after being diagnosed with pancreatic cancer and pancreatic cancer is as bad as it gets in terms of terminal illness - Patrick Swayze and Elisabeth Sladen died at not so old ages after being diagnosed with pancreatic cancer, the latter dying quite quickly within a couple of months of being diagnosed. The pancreas is a bastard organ and its positioning deep in the torso makes it hard and dangerous to operate on; over at Spacebattles.com a popular long term member died because of pancreas related problems at the very young age of 35.

[K. A. Pital]

Jobs needs to spend resources on creating a cyborg body, so that health problems would stop becoming an impediment. *laughs* Lame joke, I know.

[Metahive]

Surviving a fatal illness for that long surely speaks of a strong will to live. Making sure your companybecomes the biggest player in the business and richer than the US government (or so I heard) must be a powerful motivator.

Jobs needs to spend resources on creating a cyborg body, so that health problems would stop becoming an impediment. *laughs* Lame joke, I know.

Let me guess, it'll be called "iRobot"!

...


Ha ha ha.

Ugh.

[K. A. Pital]

Stevie's company is not richer than USG, it just has had more cash on hands at a point

[Lonestar]

Apple seems a bit overpriced. It's nuts that for a brief period last week it was worth more than Exxon. If Apple and all of it's products disappeared tomorrow, we'd have a economic hiccup and everyone would just get a new phone/tablet/computer. If Exxon and all it's assets disappeared tomorrow we'd be living Mad Max by the end of the week.

[Lord Relvenous]

Apple seems a bit overpriced. It's nuts that for a brief period last week it was worth more than Exxon. If Apple and all of it's products disappeared tomorrow, we'd have a economic hiccup and everyone would just get a new phone/tablet/computer. If Exxon and all it's assets disappeared tomorrow we'd be living Mad Max by the end of the week.

The real value and necessity of a product has very little to do with a product's stock. Heinz is hardly a foundation of western civilization. It's all just about market pressures.

Edit: I know Heinz isn't a great choice for the analogy, but you get my point.

[Big Orange]

Apple now seems more of a brand bought for street cred than a product (ie reasonably useful electronics that are much more nicely presented than pug ugly Compaq laptops).

I also hear about pancreatic cancer more often, though that could be down to pancreatic cancer still being one of the most aggressively dangerous cancers, while most other cancers in recent years have become more treatable and survivable in comparison.

[Lagmonster]

But right now? Personally, I'd say he'll have at most a year.

If you were a betting man, this would be the way to go. I've seen it diagnosed in canines, where a year from diagnosis is considered a long shot. This type of cancer is famous for having few or varied symptoms in the early stages, leading to most diagnoses happening only when it's at a dangerously advanced stage.

[Seggybop]

Jobs needs to spend resources on creating a cyborg body, so that health problems would stop becoming an impediment. *laughs* Lame joke, I know.

If I had such ludicrous amounts of money as Jobs, I'd absolutely be dumping it into that kind of research. It could potentially save me, my hypothetical company (assuming I had equivalent importance to Jobs), and millions of other people with otherwise untreatable illnesses. Why is this considered such a ridiculous proposition? Even you end up in the dirt anyway, you've still pumped billions of dollars into medical research.

[Lord Relvenous]

Oh, and the title's not quite right. He resigned as CEO. He'll be staying on as Chairman of the Board. A much less taxing position for sure, but he's not completely cut ties with Apple.

[Lonestar]

There's a Photo of him allegedly taken within the past few days floating around. He looks like a corpse.

[cosmicalstorm]

It's amazing he lived this long, he must have had world class medical treatment. In the end, I wonder if he will consider cryonic suspension?

[PainRack]

Pancreatic cancer for non operable cases last around 6 months or so. Even with whipple, 20% or so survive more than 5 years. Given the other health problems Job had...... its quite impressive that he survived and was able to do so much work during this period.