Apple’s founder Steve Jobs resigned as CEO on Wednesday after taking most the year off for medical reasons.
The 55-year-old co-founder of the company is a pancreatic cancer survivor and has been on medical leave since January 17.
Apple said Jobs has been elected chairman and Tim Cook has been elected CEO.
“Steve’s extraordinary vision and leadership saved Apple and guided it to its position as the world’s most innovative and valuable technology company,” Art Levinson, Chairman of Genentech, on behalf of Apple’s Board said in a statement.
“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.”
“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.”
Cook has been acting as CEO since Jobs has been absent on medical leave.
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