August 25, 2011- Steven Jobs, the founder of Apple, has resigned as the company’s CEO as he says he can no longer fulfill his duties. Jobs, 56, has been battling a rare pancreatic cancer since 2004 and in 2009 received a liver transplant. He was currently on a medical leave that started in January.
Jobs will take on the new position of chairman. The position did not exist prior to his resignation as CEO. Tim Cook, the company’s chief operating officer was chosen to succeed Jobs as CEO.
Jobs in his years at Apple has been able to redefine the cell phone industry with the iPhone, the music industry with the iPod and most recently the hand held computer industry with the iPad. Many are talking about not just his genius in the computer world but his unparalleled risk taking.
He did not market test ideas, he just decided whether they would work or not and either went forward with them or decided against it.
Cook has helped Apple in getting advance contracts for important parts for the company’s devices. He has been able to secure excellent prices therefore helping to keep the profit margins at Apple high.
Cook is not known outside the industry but is much respected within it. There are a number of products already in line to launch over the next couple of years, but beyond that point, the company’s success is unknown.