The New York Times
Wednesday, August 24, 2011 -- 6:47 PM EDT
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Steven P. Jobs Is Stepping Down as Chief Executive of Apple
Steven P. Jobs, the co-founder of Apple and the creative genius behind its rise to become the world's most valuable technology company, is stepping down as chief executive, the company announced Thursday.
Mr. Jobs has been battling cancer for several years and has been on medical leave since January, his third. He recovered from pancreatic cancer after surgery in 2004, and received a liver transplant in 2009.
The company named Tim Cook, its chief operating officer, to succeed him as chief executive.
"I have always said that 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," Mr. Jobs said in a letter released by the company. "Unfortunately, that day has come."
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