Silicon Valley legend Steve Jobs resigned as chief executive of Apple Inc on 24 August 2011 thereby ending his 14-year reign at the technology giant.
The industry icon suffering from pancreatic cancer had been on medical leave for an undisclosed condition since 17 January 2011 and had briefly emerged from his medical leave in March to unveil the latest version of the iPad.
Steve Jobs is the co-founder and was the chief executive officer of Apple Inc. He had rescued the computer maker from near death in 1996 after a 12-year absence from the company he co-founded. His company turned into an electronics powerhouse with the global spread of the iPhone, the rise of the iPad that single-handedly created the tablet market, and continued strong growth from a resurgent Mac line of computers.
Jobs had started Apple with a fellow college dropout Steve Wozniak in his family garage in Los Altos, California in April 1976. One of the most admired CEOs, Jobs takes home a $1 salary. However, he owns some 5.5 million shares in the company, which are worth some $1.8 billion.
Steve Jobs will be replaced by COO and heir apparent Tim Cook.
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