Steve Jobs resigns as Apple CEO

The charismatic figure, credited with turning around the fortunes of the technology giant, steps dow

Steve Jobs, the man credited with turning Apple into one of the most industry-shaping companies around, has resigned from his position as chief executive officer.

The 55 year old, who co-founded the technology giant from a garage, has been on medical leave for an undisclosed condition since January. He previously survived pancreatic cancer. In his resignation letter, Jobs said:

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.

In a statement, Apple said that Tim Cook, who has been running things in Jobs' absence, will take over as chief executive, while Jobs will move to the newly-created role of chairman.

The decision has sent shockwaves through the business world, with shares in Apple dropping by at least 5 per cent in overnight trading.

Perhaps more than any other current corporate leader, Jobs is closely identified with the success of his company. Seen as a visionary, Jobs' many admirers say that his talent lies in predicting what consumers want before they know they want it.

He ran Apple twice. The first time was from its creation in 1976 until he was ousted in 1985, and the second was 20 years later when he returned to rescue the floundering company. He successfully turned Apple round, releasing a series of iconic products. The iPod has reshaped the music industry, while the iPhone changed expectations of what a mobile phone should do.

Earlier this month, Apple briefly became the world's most valuable company, overtaking the oil giant Exxon Mobil, worth over $350bn. It didn't last long, but is astonishing given that Apple sells things that people want, rather than necessities like oil.

Over at the Telegraph, Shane Richmond suggests that it is important not to overstate the impact of Jobs' departure:

Apple's innovations over the last decade are the result of the company's structure: a small team at the top, focusing on a tightly-controlled number of products. Ideas can come from anywhere but those top executives spend a lot of time deciding what not to work on, to ensure that the company's resources aren't spread too thinly. Though Jobs played a key role in developing those working practices, the ideas are embedded deep within the company by this point. Apple's competitors might be hoping that the company's fortunes will change for the worse without Jobs but I wouldn't bet on it.

Whether Apple continues to hit the mark remains to be seen, but the technology industry has lost one of its most charismatic figures.

Samira Shackle is a freelance journalist, who tweets @samirashackle. She was formerly a staff writer for the New Statesman.

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This is no time for a coup against a successful Labour leader

Don't blame Jeremy Corbyn for the Labour Party's crisis.

"The people who are sovereign in our party are the members," said John McDonnell this morning. As the coup against Jeremy Corbyn gains pace, the Shadow Chancellor has been talking a lot of sense. "It is time for people to come together to work in the interest of the country," he told Peston on Sunday, while emphasising that people will quickly lose trust in politics altogether if this internal squabbling continues. 

The Tory party is in complete disarray. Just days ago, the first Tory leader in 23 years to win a majority for his party was forced to resign from Government after just over a year in charge. We have some form of caretaker Government. Those who led the Brexit campaign now have no idea what to do. 

It is disappointing that a handful of Labour parliamentarians have decided to join in with the disintegration of British politics.

The Labour Party had the opportunity to keep its head while all about it lost theirs. It could have positioned itself as a credible alternative to a broken Government and a Tory party in chaos. Instead we have been left with a pathetic attempt to overturn the democratic will of the membership. 

But this has been coming for some time. In my opinion it has very little to do with the ramifications of the referendum result. Jeremy Corbyn was asked to do two things throughout the campaign: first, get Labour voters to side with Remain, and second, get young people to do the same.

Nearly seven in ten Labour supporters backed Remain. Young voters supported Remain by a 4:1 margin. This is about much more than an allegedly half-hearted referendum performance.

The Parliamentary Labour Party has failed to come to terms with Jeremy Corbyn’s emphatic victory. In September of last year he was elected with 59.5 per cent of the vote, some 170,000 ahead of his closest rival. It is a fact worth repeating. If another Labour leadership election were to be called I would expect Jeremy Corbyn to win by a similar margin.

In the recent local elections Jeremy managed to increase Labour’s share of the national vote on the 2015 general election. They said he would lose every by-election. He has won them emphatically. Time and time again Jeremy has exceeded expectation while also having to deal with an embittered wing within his own party.

This is no time for a leadership coup. I am dumbfounded by the attempt to remove Jeremy. The only thing that will come out of this attempted coup is another leadership election that Jeremy will win. Those opposed to him will then find themselves back at square one. Such moves only hurt Labour’s electoral chances. Labour could be offering an ambitious plan to the country concerning our current relationship with Europe, if opponents of Jeremy Corbyn hadn't decided to drop a nuke on the party.

This is a crisis Jeremy should take no responsibility for. The "bitterites" will try and they will fail. Corbyn may face a crisis of confidence. But it's the handful of rebel Labour MPs that have forced the party into a crisis of existence.

Liam Young is a commentator for the IndependentNew Statesman, Mirror and others.