Steve Jobs, the driving force behind Apple’s second Renaissance, has resigned as Chief Executive Officer of Apple. In his stead, Chief Operating Officer Tim Cook will be promoted to CEO. Steve’s not done with Apple, though. He’s still the Chairman of the Board of Directors for the company.
Don’t fret though, Apple fans: Jobs left the company in good hands. Cook has 13 years of experience with Apple and he practically ran the business end of the company, from supply-chain to sales to customer service. He also headed up the Mac division for a time.
Shareholders weren’t so sure about the appointment, though. Apple’s stock dropped by 24 points less than 15 minutes after the announcement was made.
It’s been rumored that Jobs tended his resignation due to his extended medical leave; he’s been out of action since January.