Steve Jobs is No Longer Apple’s Boss

Steve Jobs, co-founder and up until yesterday’s current CEO of technology giant Apple, has sent a letter to the board of directors of the company saying he was leaving his post, informs

“I have always said that if there is a day when I can no longer fulfill my duties and meet the expectations as an Executive Director of Apple, you will first learn about it. Unfortunately, that day came, “says part of Jobs’s letter to the board of directors.

The health of the legendary figure from Apple is not at all good. In January, Steve Jobs took a long medical leave, but he followed closely what was happening in the company, and was involved in solving the most important management issues. His public comeback came in March when he introduced the iPad 2 to the general public.

Apple’s former boss has named his colleague Tim Cook as his deputy at the highest position in the company. The latter replaced Jobs during his absence at the beginning of the year, as mentioned above.

In the hours following the announcement, Apple’s stock fell 7 percent, but then rose slightly and stabilized to a 5 percent lower than usual.

Steve Jobs will not abandon Apple completely. In his letter, he wrote that he wanted to remain as chairman of the board of directors, and his request was immediately satisfied.

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