Has been a eventful week in the world of Technology. First we had the Hp news and now this one! The long standing CEO of Apple Computers, Steven Jobs has announced his resignation as the CEO. There were some murmurings in the grapewine of this in the last few days with him not being in the best health situation, it is probably the time to take a back seat to his illustrious career in running the giant.

News coming out says that Steve Jobs will stay on as chairman & Tim Cook has been elected as CEO

PRESS RELEASE: Letter from Steve Jobs

August 24, 2011–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.

Source : WSJ