Many sources are reporting that Steve Jobs has resigned as CEO at Apple, and has officially been replaced by Tim Cook. He'll remain on as chairman of the board.
Obviously this day was inevitable, but the timing feels a little sudden compared to the way Apple usually does things. I would have figured that Jobs would "soften the blow" by making the announcement alongside a large product unveiling (such as the next iPhone). What's not surprising is that the press release from Apple came out at the end of the day, after stock markets have closed, lessening any stock-selling frenzy that may take place.
I would have expected him to go out at the end o a fiscal quarter, or more likely adjacent to the upcoming Labor Day weekend thus giving three days for things to 'settle'.
Speculating further, when is his birthday? Is there any other special anniversary coming up?
The End of an Age...
It was really rather strange this evening when I sat down to watch CNBC's "TITANS" program and the subject was Steve Jobs. I was also a bit miffed at the way Woz was relegated a back seat in the creation of Apple in the piece.
I just went up to AOL to check for any e-mails and lo and behold the very first article was the resignation ofSteve from Apple. Not only that, but Ziff-Davis Net and OWC had news about it too.
I wish Tim Cook well. He has some very large shoes to fill.
Actually, the timing is probably pretty good. Dog days of summer. More importantly, the stock market has been on a major roller coaster ride over the past ten days, meaning the impact of the news gets drowned in the overall stock market confusion. If these were steady days on the stock market, the news would be more pronounced. Right now, with Irene sure to dominate the news for the next few days, pushing everything else aside, the Jobs retirement is mostly just side news. Apple stocks will not take as bad a hit as they might at another time.
Hey Doc, thanks for all the hacking the Color Classic posts. There's some good stuff there.
Thank you, Steve. Take good care of yourself.