CEO and tech hero Steve Jobs passed leadership to Tim Cook in his letter of resignation. Jobs will stay on as Chairman of the Apple board.

Steve Jobs Resigns, Former COO Tim Cook Named New Head of Apple

Apple has a new CEO as of yesterday, when Steve Jobs released his letter of resignation. He strongly recommended the Cupertino-based computing company follow its succession plan by naming then-COO Tim Cook as CEO. Additionally, Jobs expressed his desire to become "Chairman of the Board, director and Apple employee." All of this has been instated at Apple.

Chairman of Genentech, Art Levinson, spoke on behalf of Apple's board in a press release from Apple. As he said yesterday, Steve Jobs took a second-class tech company and turned it into "the world’s most innovative and valuable technology company," and will continue to serve its interests in his new position. As for Tim Cook, as COO he was responsible for worldwide sales and operations, and also headed the Macintosh division.

All participants in this transition - Jobs, Levinson, and new CEO Tim Cook in an e-mail published by Ars Technica, assure the public that Jobs will still be participating, Apple's best days are ahead, and things aren't going to change. Cook says in his e-mail, "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." According to the same article, Cook has been aggressive in assuring that Apple products stay competitive - especially the iPad on terms of specs and pricing.

Not only has Cook been protecting Apple's market share, he has been supporting daily operations since Jobs took a leave of absence in January, according to the LA Times, and has been doing so when the former CEO took medical leave in previous years. This makes it more likely that Apple will experience little shift change turmoil, though Cook has yet to hold these responsibilities in the long term.

By Ivory King