Showing posts from August 26, 2011

Steve hands over Apple to Cook

The future of Apple looks skeptic yet promising as Steve Jobs announced on Wednesday that he would retire from the post as CEO and handed over the reins to Tim Cook, the Chief Operating Officer of Apple.
The resignation comes in the wake of reports over the 55-year old’s inability to recuperate post his successful battle against the pancreatic cancer. Steve, who had been on leave since 17 January has been rarely seen in public since his surgery. His resignation leaves a huge question over the reports of his ailing health, which have been strictly confidential until now.

The immediate report of Steve’s resignation was met with a steep fall in the shares. The Board of Directors confirmed his resignation while producing the letter in which the visionary requested the board to relieve him of his services. Although Steve ceases to remain the CEO, he retains the Chairmanship of Apple.

The resignation of Steve leaves a huge role for Cook to fill. Cook, until date had been responsible for all of…