Less than 24 hours after the jarring revelation that Apple’s revered leader, Steve Jobs, would be stepping down from his post as CEO, his replacement has set the stage for the beloved company’s continued growth and success.
Tim Cook, who previously served as Apple’s COO and as interim CEO during Jobs’ previous medical leaves of absence, sent a note to all Apple employees today promising them the company they knew under Steve Jobs won’t change under his leadership.
The note, originally obtained by Ars Technica, reaffirms Jobs’ commitment in his resignation letter that Apple will continue to be a successful and innovative leader in the always-competitive tech sector:
I am looking forward to the amazing opportunity of serving as CEO of the most innovative company in the world. Joining Apple was the best decision I’ve ever made and it’s been the privilege of a lifetime to work for Apple and Steve for over 13 years. I share Steve’s optimism for Apple’s bright future.
Steve has been an incredible leader and mentor to me, as well as to the entire executive team and our amazing employees. We are really looking forward to Steve’s ongoing guidance and inspiration as our Chairman.
I want you to be confident that Apple is not going to change. I cherish and celebrate Apple’s unique principles and values. Steve built a company and culture that is unlike any other in the world and we are going to stay true to that—it is in our DNA. We are going to continue to make the best products in the world that delight our customers and make our employees incredibly proud of what they do.
I love Apple and I am looking forward to diving into my new role. All of the incredible support from the Board, the executive team and many of you has been inspiring. I am confident our best years lie ahead of us and that together we will continue to make Apple the magical place that it is.
Cook is no stranger to the tech community, often appearing alongside Steve Jobs at Apple events and giving important keynote speeches in Jobs’ absence. Cook has been a part of the Apple team since 1998, joining as Senior Vice President of Global Operations, and rising to his previously-held position of Chief Operating Officer in 2005.
Cook’s execution of supplier contract negotiations has made it virtually impossible for competing firms to deliver comparable products at a competitive price. Cook previously held executive positions at Compaq and IBM.
With Jobs remaining as Chairman, and a suite of Jobs-era products in the pipeline, Apple likely won’t even see a hiccup for the next few years. Jobs created a system of excellence and creativity and instilled these values in every Apple employee, and Tim Cook will continue to execute Apple’s mission of innovation and growth. Investors and insiders are confident in Cook’s ability to lead – Apple stock is down just 1 percent through midday trading Thursday.
Trading of Apple shares was halted late Wednesday pending the major breaking news that Steve Jobs, the company’s iconoclast leader has resigned from his long-held position as CEO. Below is the note Mr. Jobs sent to the Apple board and to the Apple community:
To the Apple Board of Directors and the Apple Community:
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.
I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.
As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.
I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.
I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.
After-hours trading of $AAPL resumed shortly thereafter, sending Apple shares down a relatively modest 5 percent. The move would likely have had much greater impact two years ago, as investors have recently priced Jobs’ impending departure into the stock. Business Insider’s Henry Blodget projected the announcement would have sent Apple shares tumbling 25 percent or more just two years ago.
Art Levinson, Chairman of Genentech, released a statement on behalf of Apple’s board: “Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company.”
“Steve has made countless contributions to Apple’s success, and he has attracted and inspired Apple’s immensely creative employees and world class executive team. In his new role as Chairman of the Board, Steve will continue to serve Apple with his unique insights, creativity and inspiration.”
Following the announcement of Steve Jobs’ resignation, Apple promptly named COO Tim Cook as the new CEO. Cook led Apple in 2004 and 2009 during Jobs’ medical leave. Cook is known for his calm demeanor, astonishing work ethic and tendency to challenge subordinates with impossible-to-answer questions.
“The Board has complete confidence that Tim is the right person to be our next CEO,” added Levinson. “Tim’s 13 years of service to Apple have been marked by outstanding performance, and he has demonstrated remarkable talent and sound judgment in everything he does.”
Our thoughts are with Steve Jobs and his family, and we wish him well during these challenging times. As a small token of appreciation, we direct you toward Business Insider’s “The Life and Awesomeness of Steve Jobs.”