Computers & IT

Steve Jobs quits Apple

<I>Picture: Reuters</i>

Longtime heir apparent Tim Cook is chief executive officer

The legendary Steve Jobs of Silicon Valley has resigned as chief executive of Apple Inc, ending his amazing 14-year reign at the technology giant he co-founded with Steve Wozniak in a garage. Jobs, 55, announced on Wednesday that Tim Cook, chief operating officer and longtime heir apparent, will replace him.

Shares of Apple dived as much as 7% in after-hours trade but analysts do not expect Job's resignation to affect its business. Job's resignation has been long expected after he surviving pancreatic cancer. He has been on sick leave for an undisclosed illness since January 17.

Jobs had no formal engineering training but is named as an inventor or co-inventor on more than 200 American patents which include those of Apple's best selling products such as the iPhone and iPad.

Posted on 25-08-2011 09:30 am

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