Concerns trail Steve Jobs’ resignation from Apple

Steve Jobs resigned his position as the head of Apple Inc. Consequently, the Chief Operating Officer of the technology giant Tim Cook was named the new CEO. His appointment came on the recommendation of the outgoing Chief Executive. In his resignation letter Jobs said “I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.”
Steve Jobs hopes to continue working at Apple Inc. as an employee member of the Board. It would be recalled that the share prices of Apple took a stumble the last time Jobs announced his intention to resign as Chief Executive. The situation is not quite different now. The BBC reported that the shares of Apple Inc have already started taking a nosedive following the announcement on the 24th of August 2011. Investors are concerned that the exit of Jobs will rob the company of the Midas touch.
The former COO Tim Cook was previously in charge of the company’s worldwide sales and operations which include sales and support in all markets and countries.
Art Levinson, Chairman of Genentech, on behalf of Apple’s Board said that he believes Tim cook to be the man to take the role of CEO. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.” He added.
Apple Inc is the manufacturers of Mac computers, iPhone, iPad, iPod and iTunes among others. These devices are believed to be the future of computing devices and mobile media.

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