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Steve Jobs quits as Apple CEO, Cook takes over

Aug 25, 2011 5:10:53 AM - www.ft.lk

 

(Reuters) – Steve Jobs resigned as CEO of Apple Inc on Wednesday and passed the reins to his right-hand man Tim Cook, saying he could no longer fulfill the duties in a bombshell announcement that raised fears his health has deteriorated further.
Jobs, who fought and survived a rare form of pancreatic cancer and revolutionized the technology arena with the iPhone and the iPad in the past four years, is deemed the heart and soul of a company that this month briefly became the most valuable in America.
"I have always said 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. Unfortunately, that day has come," Jobs, who takes on the new position of chairman, said in a short letter announcing his resignation.
The letter and a separate terse, somewhat cryptic statement from Apple raised more questions than it answered about Jobs' health and the future of the company.

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